Following on an option agreement with two local prospectors,
The option dealt by prospectors Sherridon Johnson and Kevin Prouty covered 32 claim units (about 5 sq. km) over a surface showing of veins exposed in a road cut on a provincial secondary highway. Grab samples from the showing and other surface exposures in the immediate area ran 0.15% to 0.64% molybdenum.
Johnson and Prouty get $50,000 in cash and 50,000 shares of Radisson, and keep a 2% net smelter return that Radisson can buy out for $1 million.
Radisson has since staked a further 13 sq. km in the Vickers Lake area and other claims near Manitou Lake, and has optioned another property near the showings from a prospecting syndicate. The syndicate receives $68,000 cash and 50,000 shares of Radisson over three years, and retains a 2% net smelter return.
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