Orient, Gold Hawk deal with Soquem

An agreement, subject to regulatory approval, has been reached by Orient Resources (ME) and Consolidated Gold Hawk Resources (ASE) with Quebec Crown mining exploration company Soquem, which will allow Soquem to earn up to a 50% interest in a 200-claim property in Nelligan Twp. in northwestern Quebec.

Orient and Gold Hawk each has a 50% interest in the property. To earn a 30% interest, Soquem must make a payment of $10,000 and spend $240,000 on exploration work within a 1-year period. It may earn an additional 20% interest by making another $10,000 payment and spending $240,000 more on exploration during the second year of the agreement. The agreement also covers the purchase by Soquem of shares in each of the two juniors.