Alamos-National Sign Joint Venture Agreement.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--April 1, 2002 Mr. Chester Millar, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Alamos The name Álamos can refer to the following:
See Canadian Venture Exchange (CDNX). :AAS) and Albert Matter, President & CEO, National Gold Corporation (CDNX:NGT NGT Night NGT National Grid Transco (UK gas transporter) NGT Nominal Group Technique NGT Not Greater Than NGT Next Generation Technology NGT Next Generation Telecom (China) NGT NASA Ground Terminal ) announce that they have today concluded the documentation of their Joint Venture Option Agreement previously announced October 17th. 2001, whereby Alamos Minerals Ltd. may earn a 50% interest in the Salamandra Gold Camp. National Gold owns the property as the result of an Asset Purchase Agreement with Tenedoramex, S.A. de C.V and Accessions Mining ('Vendors'). To earn their 50% interest Alamos Minerals, the operator, will be responsible for: -- Expending a total of $2.375 million on exploration, development, metallurgical test leaching and property costs during the term of the earn-in. This will be accomplished through a bulk leach test of sufficient size to confirm metallurgical recoveries and leaching characteristics. -- Assuming 50% of all the obligations due under the Asset Purchase Agreement for the Salamandra property. -- Paying National Gold C$2 million within 48 months of Alamos becoming the Registered Operator in Mexico. Should control of Alamos change within 24 months of it becoming the Registered Operator, operator ship of the project will revert to National Gold. All Vendor and property maintenance payments are current, and approximately $150,000 has been expended ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. on property development to date. The stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat drilling to determine the optimum pit benching has concluded and pit design and permitting for the test leach program will commence immediately. The Joint Venture Option Agreement will be subject to the approval of the Vendors and the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) . ON BEHALF OF THE BOARDS OF DIRECTORS OF: ALAMOS MINERALS LTD. Chester F. Millar, Chairman, President & CEO NATIONAL GOLD CORPORATION Albert J. Matter, President & CEO The Canadian Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release. |
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