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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (7795)	2/14/2003 11:29:59 PM
From: d:oug	Respond to of 39344

TSX Venture Exchange has accepted for filing documentation pursuant to the Option Agreement dated November 14, 2002 between the Company and... whereby... has agreed to grant the Company an option (the 'Option') to acquire a 50% interest in the Longtom Property, located about 350 kilometres north-northwest of Yellowknife, Northwest Territories, Canada, for $315,000. . The Company has the right to Joint Venture the entire 100% interest in the Longtom Property to third parties prior to the exercise of the Option. . The Longtom Property is registered 100% in the name of the Company, and the Option, is subject to a one-time Option payment of $315,000. . The Company may exercise the Option at any time. . The Company is compelled to exercise the Option within 90 days from the date it has incurred $5,000,000 in exploration expenditures on the Longtom Property. . At the Company's option, it may pay half of the purchase price of... interest in shares. The deemed price of the Company's common shares would be the average TSX Venture Exchange closing market price of its shares on the five trading days immediately proceeding and the five trading days immediately following the date that the option exercise is triggered. . The Company is required to inform the Exchange of the number of shares issued, if any, upon the exercise of the Option. . © 2003 StockHouse.com . Reference: the Option Agreement dated November 14, 2002 tyhee.com