International Kirkland Minerals Inc IKI
Shares issued 5,188,001 Feb 11 close $0.65
Fri 12 Feb 99 News Release
Mr. Dan Clark reports
The company has entered into two further option agreements with a private vendor for properties in the Lac Rocher region of Northwestern Quebec as follows:
The company may earn a 100 per cent interest in an eight claim block approximately eight kilometres north of the Nuinsco Resources Limited Lac Rocher nickel discovery, by making cash payments of $60,000 on signing as well as issuing 50,000 shares on closing. Subject to the filing of a property report acceptable to the Vancouver Stock Exchange, a further 50,000 shares are to be issued on or before June 30, 1999. Upon exercise of the option, the property will be subject to a 2 per cent net smelter return royalty, of which 1 per cent of the same royalty may be repurchased at any time by the Company for $1-million.
In addition, the company may earn a 100 per cent interest in a 52 claim block located about 12 km north of the Nuinsco discovery by paying $60,000 on signing as well as issuing 50,000 shares of the company on closing. Subject to the filing of a property report acceptable to the VSE, a further 50,000 shares are to be issued on or before June 30, 1999. Upon exercise of the option, the property will be subject to a 2 per cent nsr royalty, of which 1 per cent of the same royalty may be repurchased at any time by the company for $1-million.
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