Trueclaim Exploration Inc. (TSX-V: TRM) has entered an agreement with Pacific North West Capital (TSX-V: PFN) to acquire 58 claims which equal about 31,832 acres in Scadding, David and Street Townships in Ontario. All but 3,489 acres are contiguous to Trueclaim's Scadding Gold Property located about 50km northeast of Sudbury, Ontario. Pacific will receive 50,000 common shares of the company and a future 1.5% net smelter royalty on projects developed in the acquired area.
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About Trueclaim Exploration, Inc.
Trueclaim Exploration, Inc., formerly Stage Capital Inc., is a Canada-based company engaged in the acquisition, exploration and development of resource properties and owns a mining property near Red Lake, Ontario, Canada. Mining properties consist of six mineral claims representing 96 claim units. Each claim unit consists of approximately 40 acres of land situated approximately 12 miles south of Red Lake, Ontario. The Company is holds an undivided 100% interest in the Sandeb Property in, which the Company is exploring for gold. On July 22, 2008, the Company announced that it had entered into an arm’s length letter of intent with Trueclaim Resources Inc. (Trueclaim), dated July 7, 2008, pursuant to which Stage and Trueclaim have proposed a business combination by way of an amalgamation, arrangement, take-over bid, or other similar form of transaction.
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