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08.03.2010
YALE OPTIONS OUT THE GUADALUPE PROPERTY, ZACATECAS STATE
YALE OPTIONS OUT THE GUADALUPE PROPERTY, ZACATECAS STATE
Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to report that it has signed a Letter of Intent with Silver America Inc. (OTCBB – SILA) for the option to earn a 90% interest in Yale’s wholly owned Guadalupe Property located in Zacatecas State, Mexico.
To earn a 90% interest Silver America will be required to pay Yale US $ 900,000, spend US $ 2,000,000 on exploration expenditures and issue 1,000,000 shares to Yale over four years. Cash payments will be due every six months and will increase to a final payment of US $355,000. Yale will act as the operator for the project. The minimum work commitment before June 30, 2011 is US $ 400,000 including a minimum of 2,000 metres of drilling.
Should the earn-in be completed Yale will retain a 10% participating interest in the property as well as a 2% NSR, which can be bought out in entirety for US $ 2,000,000.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation while concentrating on key projects. Currently Yale is dedicated to advancing the Orofino gold/silver project to the drilling stage as rapidly as possible.
In addition the Company is currently in discussions with a number of potential partners for the optioning out the Company’s other wholly owned projects. Yale has three of its six properties optioned out to value added partners, which combine for minimum commitments of approximately US $750,000 of exploration expenditures over the next 12 months. With projects optioned out to partners, Yale continues to review new projects with a focus on gold.
On behalf of the Boards,
“Ian Foreman”
Ian Foreman, P.Geo.
President
For additional information on Yale Resources please call the Company at 604-678-2531.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to report that it has signed a Letter of Intent with Silver America Inc. (OTCBB – SILA) for the option to earn a 90% interest in Yale’s wholly owned Guadalupe Property located in Zacatecas State, Mexico.
To earn a 90% interest Silver America will be required to pay Yale US $ 900,000, spend US $ 2,000,000 on exploration expenditures and issue 1,000,000 shares to Yale over four years. Cash payments will be due every six months and will increase to a final payment of US $355,000. Yale will act as the operator for the project. The minimum work commitment before June 30, 2011 is US $ 400,000 including a minimum of 2,000 metres of drilling.
Should the earn-in be completed Yale will retain a 10% participating interest in the property as well as a 2% NSR, which can be bought out in entirety for US $ 2,000,000.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation while concentrating on key projects. Currently Yale is dedicated to advancing the Orofino gold/silver project to the drilling stage as rapidly as possible.
In addition the Company is currently in discussions with a number of potential partners for the optioning out the Company’s other wholly owned projects. Yale has three of its six properties optioned out to value added partners, which combine for minimum commitments of approximately US $750,000 of exploration expenditures over the next 12 months. With projects optioned out to partners, Yale continues to review new projects with a focus on gold.
On behalf of the Boards,
“Ian Foreman”
Ian Foreman, P.Geo.
President
For additional information on Yale Resources please call the Company at 604-678-2531.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA9845951081">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA9845951081</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.