Mary Ellen signs letter of intent

Mary Ellen Resources has signed a letter of intent with the Saskatchewan Mining and Development Corp. (SMDC) whereby Mary Ellen and Lenora Explorations have agreed to joint venture a 17,000-acre Lodge Bay property in the Beaverlodge area of Saskatchwan.

Under the terms, Mary Ellen and Lenora can earn a 60% interest by spending $2 million on exploration over a 4-year period.

The property is immediately to the west and south of Mary Ellen’s and Eldor Resources’ Fishook Bay property and Mary Ellen’s and SMDC’s Nicholson Bay property.

Mary Ellen President Robert J. Kasner says the property contains the Frontier Adit gold discovery which is a large low grade gold deposit that may be amenable to leaching. Underground exploration has also discovered three higher grade zones within the low grade mass.

An exploration program is currently being prepared for the property.