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Gold/Mining/Energy : Samex Mining | OTC:BB - SMXMF | Canada - V.SXG
SMXMF 0.00010000.0%Sep 10 5:00 PM EST
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To: Travbfree who wrote (393)11/3/1999 7:23:00 PM
From: Lilian Debray  Read Replies (1) of 539
 
SAMEX MINING CORP. ("SXG")
NOTICE TYPE: Property-Asset Disposition
NOTICE DATE: November 2, 1999

The Vancouver Stock Exchange has accepted for filing documentation pertaining to an Option/Joint Venture agreement dated September 30, 1999 between the Company and International Chalice Resources Inc. whereby the Company grants International Chalice Resources Inc. an option to earn up to 35% joint venture interest in the El Desierto property situated along the Bolivian/Chilean border. In consideration of the option International Chalice Resources Inc. has agreed to issue 200,000 common shares to the Company. International Chalice Resources Inc. can earn up to 35% joint venture interest by expending a total of US$500,000 on the property over a period of 30 months as follows:

d) expend US$300,000 within 18 months of the Closing to earn 25% joint venture interest (after earning a 25% joint venture interest, Chalice will have the right to elect to revert to a 10% carried interest without further commitments);

e) during the following six months, expend an additional US$100,000 within 24 months of the Closing to earn an additional 5% joint venture interest for a total of 30%;

f) during the following six months, expend an additional US$100,000 within 30 months of the Closing to earn an additional 5% joint venture interest for a total of 35%

25,000 common shares of Samex Mining Corp. are to be issued to Goepel McDermid Inc. as a finder's fee.
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