Post by Franko10 ™ on Sept 11, 2004 14:41:13 GMT -5
News Release
August 3, 2001
Masuparia Gold amends files two letter agreements
The Canadian Venture Exchange has accepted for filing a letter agreement dated May 21, 2001, (the Greywacke agreement), between Masuparia Gold Corporation and Shane Resources Ltd. and JNR Resources Inc. pursuant to which the company may earn a 51-per-cent interest in the Greywacke property in northern Saskatchewan. In consideration therefor, the company shall pay to Shane and JNR a total cash payment of $10,000 (which has been paid) and issue a total of 500,000 shares (of which 100,000 shares have been issued and the remaining 400,000 shares are to be issued in tranches of 100,000 shares each on May 25th of each of 2002, 2003, 2004 and 2005). In addition, the company must spend annual sums (a total of $850,000) on or before May 25, 2005. The company may increase its interest in the Greywacke property to 70 per cent by spending an additional $2 million before May 25, 2008. The CDNX has also accepted for filing a letter agreement dated May 21, 2001, (Dickens Lake agreement), between Masuparia Gold Corporation and United Carina Resources Corp. and Consolidated Pine Channel Gold Corp. pursuant to which the company may earn a 51-per-cent interest in the Dickens Lake property in northern Saskatchewan. In consideration therefor, the company shall pay to Carina and Consolidated Pine a cash payment of $10,000 (which has been paid) and issue a total of 100,000 shares (all of which shares have been issued). In addition, the company must spend annual sums (a total of $325,000) on or before May 25, 2005. The company may increase its interest in the Dickens Lake property to 70 per cent by spending an additional $500,000 before May 25, 2008.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker
President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.
August 3, 2001
Masuparia Gold amends files two letter agreements
The Canadian Venture Exchange has accepted for filing a letter agreement dated May 21, 2001, (the Greywacke agreement), between Masuparia Gold Corporation and Shane Resources Ltd. and JNR Resources Inc. pursuant to which the company may earn a 51-per-cent interest in the Greywacke property in northern Saskatchewan. In consideration therefor, the company shall pay to Shane and JNR a total cash payment of $10,000 (which has been paid) and issue a total of 500,000 shares (of which 100,000 shares have been issued and the remaining 400,000 shares are to be issued in tranches of 100,000 shares each on May 25th of each of 2002, 2003, 2004 and 2005). In addition, the company must spend annual sums (a total of $850,000) on or before May 25, 2005. The company may increase its interest in the Greywacke property to 70 per cent by spending an additional $2 million before May 25, 2008. The CDNX has also accepted for filing a letter agreement dated May 21, 2001, (Dickens Lake agreement), between Masuparia Gold Corporation and United Carina Resources Corp. and Consolidated Pine Channel Gold Corp. pursuant to which the company may earn a 51-per-cent interest in the Dickens Lake property in northern Saskatchewan. In consideration therefor, the company shall pay to Carina and Consolidated Pine a cash payment of $10,000 (which has been paid) and issue a total of 100,000 shares (all of which shares have been issued). In addition, the company must spend annual sums (a total of $325,000) on or before May 25, 2005. The company may increase its interest in the Dickens Lake property to 70 per cent by spending an additional $500,000 before May 25, 2008.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker
President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.