Braddick Resources Ltd. Noront Resources Ltd.
168 Queen St. South 350 Bay St., 8th Floor
Mississauga, Ontario Toronto, Ontario
L5M 1K8 M5H 2S6
Phone (905) 542-8196 Phone (416) 864-1456
PRESS RELEASE
BRADDICK ACQUIRES OPTION ON LAC ROCHER CLAIMS
March 11, 1999
Braddick Resources Ltd. (BRO - VSE) has signed an option agreement with Noront Resources Ltd. (NOT - VSE) on 32 mineral claims in the Lac Rocher area, Quebec.
The claims are situated approximately 18 km southwest of the recently reported Nuinsco discovery and border on the southern end of Lac Rocher which trends northeast-southwest and may be the topographic expression of a major northeast-southwest trending fault zone. An additional 32 water claims have been applied for contiguous to this claim block. These will also be optioned to Braddick at cost and included in the original agreement.
Braddick has the option to acquire up to a 60% interest. An initial 50% interest may be earned by Braddick through a cash payment of $12,800, issuance of 100,000 shares, and exploration expenditures totaling $500,000 over four years. By spending an additional $250,000 over six years Braddick may earn the additional 10% for a total interest of 60%. Upon completion the companies would form a 60%/40% joint venture.
The terms of the agreement are subject to all necessary regulatory approvals.
On behalf of the Board Onn behalf of the Board
signed "Derek Bartlett" Signed "Uldis Abolins"
Derek Bartlett, President Uldis Abolins, Vice President, Braddick Resources Ltd. Exploration Noront Resources Ltd.
The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein.
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