From: newsout@canada-stockwatch.com
Date: Wed, 16 Jul 1997 15:03:42 -0700
Subject: Stockwatch: New Claymore Resources Ltd - News Release
To: ajanko@erinet.com
Meteor Minerals options Buffalo Hills property
New Claymore Resources Ltd NCS
Shares issued 4,015,775 Jul 11 close $1.80
Wed 16 Jul 97 News Release
Mr Jonathan George of Meteor Minerals reports
Meteor has acquired the rights to an option on a 270,000 acre mineral
permit in the Buffalo Hills area of Alberta. The rights to enter into the
option agreement are being acquired from a director of the company for his
out of pocket expenses incurred on the project to date, being $20,000
property payment and $14,000 towards an airborne geophysical survey.
The property, approximately 30km southwest of Ashton's diamond discovery
block, has recently been flown and is presently being interpreted to detect
geophysical anomalies with possible kimberlitic affinities. Terms of the
underlying option agreement to earn a 50% interest from the owner, New
Claymore Resources, are as follows:
(a) A $50,000 cash payment to New Claymore Resources;
(b) The issuance of 400,000 shares of Meteor to New Claymore;
(c) Expenditures of at least $1.50 per acre on or before April 5 1998 and
$2.00 per acre on or before April 5 1999.
New Claymore will direct all exploration activities during the 1997 and
1998 field seasons.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
