49 % With Shane... Where is it?

[Franko10 ™]

Shane PR from September 19, 2003

Shane Resources Ltd. (TSX.H: SEI) is pleased to announce that the Company has entered into an agreement with Casavant Mining Kimberlite International (U-CMKM) whereby the Company, will have an option to earn a 10% interest in 82 claims in the Fort à la Corne area of Saskatchewan. The interest will be earned by the Company providing $100,000 in 2003 and $200,000 in 2004, to be spent on exploring the claims for diamonds. In addition, the Company has agreed to grant CMKM a right of first refusal to earn up to a 49% interest in any diamond properties the Company may hold and seek to joint venture.


LAS VEGAS, Nov 20, 2003 /PRNewswire-FirstCall via Comtex/ -- Urban Casavant, President of Casavant Mining Kimberlite International (Pink Sheets: CMKM) announced today that the company has completed all previous mentioned contracts with public Diamond Exploration companies.


The Company holds a large land position in the Fort à la Corne area, located about 50 kilometres east of Prince Albert. The district is host to one of the largest known clusters of diamondiferous kimberlite pipes in the world. Within the area, Shore Gold Inc. is conducting a pre-feasibility study on their huge Star Kimberlite pipe. Shore and partners have spent in excess of $250 million to date. Shane has conducted airborne and ground geophysics on some of their properties to date and plans to continue to evaluate and explore in the area.

49 % Interest in Diamond Properties
From: ([e-mail])
Sent: December 14, 2007 8:47:15 AM
To: [e-mail],

I am currently a Shareholder of a few mining companies and some that appear to have connections to your corporation. What I am asking today is does the agreement laid out below still stand.


Shane PR from September 19, 2003


Shane Resources Ltd. (TSX.H: SEI) is pleased to announce that the Company has entered into an agreement with Casavant Mining Kimberlite International (U-CMKM) whereby the Company, will have an option to earn a 10% interest in 82 claims in the Fort à la Corne area of Saskatchewan. The interest will be earned by the Company providing $100,000 in 2003 and $200,000 in 2004, to be spent on exploring the claims for diamonds. In addition, the Company has agreed to grant CMKM a right of first refusal to earn up to a 49% interest in any diamond properties the Company may hold and seek to joint venture.

Thanks In Advance


FORT A LA CORNE, SASKATCHEWAN

The Company owns a 100% interest in eleven mineral claims, numbered S-132075 to S-132078 inclusive acquired by staking in January, 1996 and claims S-139035, S-140292, and S-140302 to
S-140306 inclusive, acquired by staking in 2006. These claims comprise approximately 9,216 hectares in the Fort a la Corne area of Saskatchewan. To June 30, 2007, the Company had expended $7,534 on acquisition and $20,995 on exploration of the claims.

SMEATON NORTH, SASKATCHEWAN

During 2005, the Company acquired by staking four mineral claims consisting of 4,096 hectares north of Smeaton, Saskatchewan. To June 30, 2007, the Company had expended $1,229 on acquisition of the claims.

[Franko10 ™]

Reply From Pedro:

pedro2004 said:

Here is a copy of Shane’s MDA for the period ending June 30, 2006.

convert.neevia.com/prods/c6d23caf-1795-45d3-bd46-fa57bb6438ed.cvn/a.pdf






The agreement was known as “Project Surround.”
Look for this information on Page 3 of the June 2006 report;








Here is a copy of Shane’s MDA for the period ending September 30, 2007.

convert.neevia.com/prods/f7019699-e207-448c-9f35-7c2e434a2a2f.cvn/b.pdf

In the Sept-2007 MDA you’ll notice that “Project Surround” is no longer an operating agreement with Shane Resources.









A while back, around the time of the ETGMF Assignment, I wanted to find out about all the other “agreements” CMKX held with the Canadian JV’s and why/if such agreements would be handed over to ETGMF. What I discovered is:

~ Urban never exercised any of the options on any of the JV Partner Claims.
~ United Carina declared CMKX in default of their rights to the Smeaton Claims (Carolyn) because of failure to meet expenditure requirements.

Later on, Shane resources and United Carina sold a claim adjacent to Shore Gold.
I’m 99.9% positive this was the claim Ron Casavant used to boast about at the races.

Shane and United sold the claim to Forest Gate whom ended up having a JV with some company (I believe JNR, can’t remember).

Forest Gate paid something like 1 or 2 million shares for the claim plus retaining a royalty percentage (or some kind of rights).

I again checked to find out if CMKX had any rights to this deal and discovered that CMKX never exercised their option on this claim too!

[Franko10 ™]

From: Eric Wray ([e-mail])
Sent:December 14, 2007 2:47:36 PM
To: ([e-mail])

Francis,
That deal was only for three years and expired in 2006. Thank you for your interest.

Eric Wray