Corrections (October 06, 2003)

In our Sept. 29-Oct. 5 issue, we incorrectly reported that Wolfden Resources (WLF-T) had paid $6.5 million to Blackstone Ventures (BLV-V) to earn a 70% interest in two mining claims adjacent to Wolfden’s High Lake property in Nunavut.

According to an agreement revised in early September, Wolfden stands to earn a 70% interest in 15 claims that make up Blackstone’s James River property immediately south of High Lake.

To complete its earn-in, Wolfden must reimburse Blackstone for its staking costs (about $47,000), make future cash payments to the underlying property vendors, keep all claims in good standing for at least a year, spend $2.5 million exploring the property over four years, and pay $75,000 in cash to Blackstone. The property is subject to a 2% net smelter return royalty, half of which can be purchased at any time for $1 million.

Also, in the same issue, a photo caption that accompanied our story “Ursa Major sheds light on Nipissing” incorrectly identified Ursa Major Minerals (UMJ-V) President Richard Sutcliffe as the person positioned front-left. He was actually positioned front-right.