From: newsout@canada-stockwatch.com
Date: Thu, 02 Oct 1997 15:11:50 -0700
Subject: Stockwatch: Lucero Resource Corp - Acquisition
To: ajanko@erinet.com
Lucero Resource Corp LCR
Shares issued 11,624,832 Oct 1 close $0.75
Thu 2 Oct 97 Acquisition
The VSE has accepted for filing an agreement dated February 7 1997 between
the company, Polo y Ron Minerales SA de CV El Paso Partners LP and Six Gill
Minerals Ltd. Pursuant to this agreement the company will receive a 50%
interest in the Santa Maria claims which comprise 6,700 hectares in the
Batopilas District, Chihuahua, Mexico. The company will earn its interest
in the property by undertaking the following cash payments, share issuances
and work expenditures:
Cash Payments:
1. US$75,000 upon signing;
2. US$150,000 on the first anniversary;
3. US$250,000 on the second anniversary ;
4. US$250,000 thereafter until delivery of a feasibility study.
Share Issuances:
1. 20,000 shares upon signing;
2. 50,000 shares on the first anniversary;
3. 100,000 shares on the second anniversary.
Property Expenditures:
1. US$200,000 in the first year;
2. US$500,000 in the second year;
3. US$1,300,000 in the third year;
4. US$1,300,000 thereafter until delivery of a feasibility study.
The property is also subject to a 2% nsr return.
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