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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (36419)5/1/2009 12:26:29 PM
From: LoneClone  Read Replies (1) of 194001
 
KOOTENAY GOLD INC. ("KTN")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: April 29, 2009
TSX Venture Tier 1 Company

marketwire.com

TSX Venture Exchange has accepted an Option Agreement between Kootenay Gold
Inc. (the "Company") and Theia Resources Ltd. ("Theia"). Pursuant to the
agreement, the Company has granted Theia the option to earn a 60% interest
in the Rosetta Stone Project in British Columbia.

Aggregate consideration payable by Theia to the Company is:
- 100,000 Theia shares by the fifth business day after Exchange acceptance;
- 300,000 Theia shares over a three year period;
- $1 million exploration expenditures over five years, and;
- 250,000 Theia shares on the date that the property goes into commercial
production.

Subsequent to exercise of the earn-in, Theia and Kootenay will form a 60/40
joint venture. Funding of further work on the Rosetta Stone Property will be
on a proportional basis under the direction of a management committee with
voting rights proportional to ownership percentage. Either party may be
diluted on the basis of a standard formula if they do not contribute to the
planned programs.

Insider / Pro Group Participation: Rajwant Kang is an officer of both the
Company and Theia. Kenneth Berry is a director and officer of both the
Company and Theia.

[Thanks Marcos]
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