Savanna/Bow Valley Courageous Lake bet

A joint venture agreement has been reached between Courageous Exploration and Bow Valley Industries.

Courageous is held 65% by Savana Resources and 35% by American Chromium Ltd. Under the terms of the agreement, Bow Valley has the right to earn a 60% interest in one of four claim blocks held by Courageous in the Courageous Lake greenstone belt northeast of Yellowknife, N.W.T. by spending $5 million on exploration prior to April 30, 1990, and by reimbursing Courageous Exploration $1.15 million.

Bow Valley plans diamond drilling on the property this spring.