Thelon Ventures (TSX-V: THV) has entered an option agreement with Blair Naughty to acquire a 100% interest in 4 claim blocks within the Stewart Mining Camp. The 4 claim blocks are spread out over approximately 1,450 hectares in British Columbia. The block of land Thelon is working to acquire further land in the area.
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Pursuant to the Agreement, Thelon must pay the vendor $15,000 in cash, incur a total of $225,000 in expenditures on the property on or before December 1, 2011, and issue four million shares in the company's capital. The vendor has retained a 3% net smelter return royalty of which Thelon can purchase 1% through the payment of $1 million in cash or shares to the vendor prior to commercial production.
About Thelon Ventures
The Company has built a portfolio of regionally diverse mineral properties, prospective for various different minerals, ranging from diamonds in Canada's Northwest Territories to Uranium in the Athabasca basin and The Western United States. The Company seeks out mineral exploration properties that have the potential to host world-class deposits. We operate under the simple premise that " the best place to find a mine is within sight of a head-frame", acquiring and exploring properties of merit located in regions that are proven to host world-class producing mines.
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