Vancouver-listed Seawest Resources can earn a half participating interest in the Moody Twp. gold prospect of Glen Auden Resources (CDN). The 89-claim property is near Timmins, Ont.
To earn the interest, Seawest must spend $500,000 on exploration and pay $50,000 cash over five years. It can earn an additional 10% by spending a further $500,000 in the sixth year.
In other news, Glen Auden has granted New Legends Metals a 10% interest for having spent $165,000 exploring some of the former’s properties in Casa Berardi, Que. (Glen Auden can, at any time, buy back this interest for $700,000.)
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