CONDOR INTERNATIONAL RESOURCES INC. ("COD")
NOTICE TYPE: Minor Property Transactions NOTICE DATE: December 16, 1997.
The Vancouver Stock Exchange has accepted for filing documentation pertaining to three Agreements
between the Company and 524520 B.C. Ltd. ("524520") dated November 19, 1997, pursuant to which the
Company has acquired an option to acquire a 100% interest in the Dempster, Lomond, and Threadgold
Properties, comprising a total of 168 claims in the Mayo and Dawson Mining Districts, Yukon Territory. In
consideration, the Company will pay to 524520 a total of $180,000 in cash and issue a total of 450,000
common shares, with the consideration for each property including $60,000 in cash and 150,000
common shares, with the cash and shares to be paid in three tranches over a two year period. A total of
$60,000 in cash and 150,000 common shares will be issued for the three properties on approval of the
transactions by the Exchange. The issuance of additional shares for each property will be subject to the
Company submitting to the Exchange an acceptable technical report summarizing the results of
exploration work completed, and recommending further work on the property.
Blackstone Resources Inc. retains the right to back-in to earn a 20% participating interest in each of the
properties by funding 25% of Condor's property costs prior to the back-in, and paying its 20% share of all
further costs.
A 2% NSR is payable to the vendor (524520) on these transactions, with Condor retaining the right to
purchase one half of the royalty at any time for $1,000,000 in cash. |
