Rondal Gold Corp -RGD (formerly Prior Resources - PQL) Message Board

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Gold/Mining/Energy : Rondal Gold Corp -RGD (formerly Prior Resources - PQL)

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To: joseph nazarian who wrote (149)	12/9/1996 9:52:00 AM
From: Robert Saito	of 331

Prior Resources Ltd. PQL ASE December 9, 1996 Grant of Option on Pachuca Property PRIOR RESOURCES LTD. ("PQL-Y;PORLF-L") L.E.H. VENTURES LTD. ("LEH-V;LEHVF-L") Dalton B. DuPasquier, President of Prior Resources Ltd., announces that the Company and its wholly-owned Mexican subsidiary, Prior Mexicana S.A. de C.V., have entered into an agreement with L.E.H. Ventures Ltd. ("L.E.H.) pursuant to which L.E.H. has acquired the option to purchase a 50% interest in the Pachuca property located in Mexico. The Company originally acquired a 100% interest in the Pachuca property under an agreement dated February 10, 1995 with Ronald H. Tammekand and Marco David Trujillo Guerrero. The option granted to L.E.H. is exercisable by making cash payments of $1,625,000 U.S. and incurring and paying for exploration expenditures of $600,000 U.S. The property is subject to a 3.0% Net Smelter Royalty. The agreement is subject to the approval of The Alberta Stock Exchange. TEL:(604) 682-0410 Dalton B. DuPasquier, President FAX: (604) 682-0412

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