Paget
Minerals Corp. (TSX-V: PGS) has entered an agreement with Pembrook Mining Corp.
to acquire the Icy Lake, Fae and Slam properties in B.C. The property contains
2,583 hectares of mineral claims in 4 separate blocks, located in northern
B.C., around 120km west of Dease Lake. Icy Lake is a 2x3 km Cu-Mo porphyry
system with a flanking gold-bearing, Cu-Mo skarn and quartz-iron-carbonate
veins.
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Terms
of the transfer of the Icy Lake, Fae and Slam properties consist of the
issuance of 5,470 Paget shares to Pembrook, and in the event of any future sale
or other disposition of the properties Pembrook will be entitled to 10% of any
cash, shares or royalty receivable by Paget. Pembrook will retain a 2% NSR
royalty on the properties, of which 1% can be bought back for $1.0 million.
Paget
Minerals Corp. is a British Columbia company focused on mineral exploration and
the development of a diverse range of precious metal, base metal and rare earth
element projects in North America.
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