Consolidated Pine Channel -- Two Property Option Agreements.PINE CHANNEL GOLD (VSE See DOS/VSE. VSE - Virtual Storage Extended : KPG KPG Kodak Polychrome Graphics KPG Kingdom Power Glory KPG Key Pair Generator ) Dale W. Hoffman, President of Consolidated Pine Channel Gold Corp. (the "Company") is pleased to report that the Company has entered into two property option agreements with respect to properties located in Firstbrook Township township: see town. , Ontario, within the area of interest of the Consolidated Pine Channel -- JNR Jnr Junior Noun 1. Jnr - a son who has the same first name as his father Jr, Junior son, boy - a male human offspring; "their son became a famous judge"; "his boy is taller than he is" Jnr Resources diamond exploration joint venture project. The agreements are with two, unrelated, property owners. In each of the agreements, which are identical, the Company is granted an option to acquire a 100 percent interest in the respective property, subject to a 2.25 percent net return royalty in favour of the Optionor, in consideration of a property payment of $10,000 payable upon receipt by the Company of Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). acceptance of the transactions. The option is exercisable upon the Company: (a) issuing 50,000 shares to the Optionor in the event a kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. structure is discovered on their property; (b) completing a 5-ton bulk sample within two years of such discovery; (c) issuing a further 100,000 shares if the kimberlite is diamondiferous; and (d) paying the property owner 2.5 times the market value of the land, valued as farm land. In the event that the option is not exercised within two years of the agreement date, it may be extended by payment to the Optionor of a further $5,000 on each of the second, third, fourth and fifth anniversaries of the date of the agreement. In each case, the Company may reduce the net return royalty to 0.25 percent upon payment to the Optionor of $3,000,000. The results of a recent airborne mag survey showed that each of the properties contained geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. signatures similar to those of known kimberlite pipes in the area. CONSOLIDATED PINE CHANNEL GOLD CORP. Per: Dale W. Hoffman, President -0- Note to Editors: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release. CONTACT: Consolidated Pine Channel Gold Corp. Dale W. Hoffman, 604/687-2144 or 604/684-5118 |
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