American Sierra Gold Corp. (OTCBB: AMNP) has entered a letter of intent to acquire a 75% stake in the Discovery Day Gold Project from Trinity Alps Resources. The project contains over 950 acres and controls the Knownothing Mining District. Included in the district are the Gilta, Discovery Day, Hansen, Knownothing, along with several smaller mines and prospects.
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Under the terms of the Letter of Intent, American Sierra has agreed to invest $2 million in the property over a 2 year period in order to earn a 75% stake in the project. In addition to the $2 million American Sierra will issue 2million shares and 2 million 5 year warrants of the company's stock over the same period.
About American Sierra Gold Corp.:
American Sierra Gold Corp. is a publicly traded independent gold exploration company headquartered in Reno, Nevada (OTCBB: AMNP).
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