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Share Name | Share Symbol | Market | Type |
---|---|---|---|
TresOr Resources Ltd | TSXV:TRS | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.08 | 0.08 | 0.10 | 0 | 00:00:00 |
Tres-Or Resources Ltd. ("Tres-Or") (TSX VENTURE:TRS) and Pershimco Resources Inc. ("Pershimco") (TSX VENTURE:PRO)(FRANKFURT:BIZ) are pleased to announce an Option Agreement (the "Agreement") for Pershimco to acquire six (6) Pascalis area claim blocks that surround Pershimco's Courville Gold Project in the Val d'Or-Malartic Gold Mining Camp. The Pascalis area claims and showings are located approximately 45 km northeast of Val-d'Or within the Abitibi belt of northwestern Quebec and include several historic gold showings reported from previous exploration work programs. For details refer to map of the Pascalis area claims http://www.tres-or.com/images/gallery/pascalis.jpg Under the terms of the Agreement, Pershimco can earn up to 100% of the Pascalis area properties over a three (3) year period subject to a 2.0% Net Smelter Return (NSR) where Pershimco can buy-back 1.0% NSR for one million and retains the first right to buy-back the remaining 1.0% NSR. The properties under option are jointly held by Tres-Or and its 50% partner, Sementiou Inc. In order to complete the earn-in, Pershimco has agreed to pay $50,000 cash on signing and issue 50,000 shares of Pershimco subject to Exchange approval of the Agreement. Pershimco has also committed to spend $500,000 in exploration work over a 24 month period. In addition, 12 months after signing of the Agreement, Pershimco has agreed to pay $50,000 cash and issue 50,000 shares and in 24 months, will pay $100,000 cash and issue 100,000 common shares of Pershimco. To complete the earn-in, Pershimco has agreed to spend a further $500,000 in exploration work to acquire a 100% interest subject to a 2.0 % NSR. The Agreement is subject to TSX Venture Exchange approvals. On behalf of the Board of Directors, Laura Lee Duffett, President and CEO About Tres-Or Resources Ltd.: Tres-Or Resources Ltd. (TSX VENTURE:TRS) is a Canadian resource company exploring gold, base and precious metals and diamond projects in Ontario and Quebec. Tres-Or's experienced team has proven success in exploration through to discovery and mine development. Additional information related to the Company is available at: www.tres-or.com.
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