Hi Qwerty,
What's this all about. Do you know anything about these properties.
****NEWS RELEASE****
KRL Resources Corp -
Property option agreement
KRL Resources Corp
KRL
Shares issued
14475625
1997-12-01 close $0.08
Monday Dec 1 1997
Also Cross Lake Minerals Ltd (CRN)
Mr Seamus Young reports
KRL Resources has has entered into an
agreement with D. Burda and M. Laskowski of
Ontario, under which it has been granted the
right to acquire a 100% interest in a single unit
mining claim. The claim is in the Knight
Township, Ontario, adjacent to the Arthur
Lake property held by the company under a
December 1991 joint venture agreement with
Cross Lake Minerals and immediately west of
the Shining Tree property being explored by
Battle Mountain Canada and Pelangio-Larder
Mines. KRL will make one cash payment of
$5,000 upon exchange approval and issue
25,000 shares upon the completion of an
exploration program. The agreement does not
contain any work commitments. The property
vendors will retain a 2% nsr royalty, of which
1.5% can be purchased at any time for a total
cash payment of $450,000.
KRL has granted Cross Lake the right to earn
a 49% interest in the claim pursuant to a
November 27 1997 agreement. Cross Lake will
earn its 49% interest by paying the company
$5,000. Upon KRL making the required share
payments to the property vendors, the claim
will be included as part of the Arthur Lake
property currently held under the joint venture
between KRL and Cross Lake. Initial work
programs will also be carried out in
accordance with the terms of the joint venture
agreement.
KRL has terminated its investor relations
agreement with Tandem Capital Group, and its
consulting agreement with Nicolas
Chernenkoff. Mr Harvey Dickson has resigned
as a director. In addition, Mr John J. Watkins,
P.Geo., has joined the company as exploration
manager.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com
GOLDIGER. |
