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RFR Renforth Resources Inc

0.02
0.005 (33.33%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Renforth Resources Inc CSE:RFR CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.005 33.33% 0.02 0.015 0.02 0.02 0.02 0.02 255,000 14:30:00

Renforth to Acquire 100% Interest in New Alger Property

29/01/2013 12:00pm

Marketwired Canada


Renforth Resources Inc. ("Renforth" or the "Company") (CNSX:RFR) announces that
it has entered into an agreement (the "Purchase Agreement") with Cadillac
Ventures Inc. ("Cadillac") to acquire a 100% interest in Cadillac's New Alger
Property, located in Cadillac Township, Quebec.


The Purchase Agreement provides for the payment to Cadillac of the following:
(i) $20,000 cash and 2,000,000 common shares of Renforth at the time of signing
the Agreement, (ii) $210,000 cash by June 15, 2013, and (iii) $250,000 cash by
November 15, 2013. Upon satisfaction of the foregoing conditions, Renforth will
acquire a 100% interest in the property, subject to an existing 1% net smelter
return royalty and Cadillac will retain an additional 1% net smelter return
royalty.


The New Alger Property was historically productive intermittently between 1929
and 1948. Historical and Quebec government records indicate that the minimum
production was 21,740 oz. of gold from 175,055 tons of mined rock representing
an average grade of 4.22 g/t Au.


"Renforth is pleased to be in the position to be able to own 100% of the New
Alger Property, and bring current exploration and technical methodology to bear
on a property that has sat largely idle, for a long period of time. We are
excited to be in the Cadillac Break, and look forward to commencing an
exploration program," states Nicole Brewster, President and CEO of Renforth.


The Purchase Agreement terminates the previous agreement between the parties
under which Renforth had an option to acquire a 51% joint venture interest in
the New Alger Property.


ABOUT RENFORTH 

Renforth Resources Inc. is a Toronto-based exploration company pursuing the
development of the Company's Mink Lake Project in the Red Lake area of
Northwestern Ontario. The Company is also evaluating additional exploration
opportunities on an ongoing basis.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
(416) 368.5049
(416) 368.3151 (FAX)
nicole@renforthresources.com

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