Knick’s East-West Gold Property Agreement With Rogue Iron Ore Corp.admin
Val-d’Or, Quebec, December 19, 2013, – Knick Exploration Inc. (TSX-V: KNX) is pleased to report that it has entered into an agreement on its East-West gold property with Rogue Iron Ore Corp. (TSX-V: RRS). Subject to regulatory approval "Rogue" the Optionee has the right to earn up to 100% interest in the East-West gold property over a three year period, The property is subject to a 3.5% NSR, !00% of which may be purchased by Rogue.
The acquisition terms are;
a)upon regulatory approval:750,000 shares, $5,000 cash
b)First Anniversary: 1,000,000 shares, $50,000 cash
c)Second Anniversary: 1,000,000 shares, $100,000 cash
d)upon regulatory approval "Rogue" will have 12 months to spend $500,000 on work expenditures resulting in an earned interest of 40% in the project
e)in the12 month period from the First Anniversary "Rogue" will be required to spend an additional $750,000 on exploration expenditures to acquire an additional 30%
f)in the12 month period from the Second Anniversary "Rogue" will be required to spend an additional $1,500,000 on exploration expenditures to acquire the final 30% interest of the East-West gold property
The East-West gold property is situated in the gold corridor of the Val d’Or Mining Camp between the Kiena Mine (Wesdome Mining Ltd., TSX: WDO) and the past producing Marban Mine (Hecla Mining Company, NYSE: HL Niogold Mining Corp., TSX.V: NOX). Several gold milling facilities which lie along the Trans-Canada Highway are within 35 kilometres of the property including Agnico Eagles-Goldex Mill and Richmont Mines-Camflo Mill, 10 kilometres west and east of the property respectively.
Gordon N. Henriksen, P.Geo., Vice President of Knick Exploration, is the Company’s qualified person as defined by National Instrument 43-101. He has reviewed and approved the contents of this press release.
We seek Safe Harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Knick Exploration
536, 3rd Avenue 536, 3rd Avenue
Val-d’Or, Quebec Val-d’Or, Quebec
J9P 1S4 J9P 1S4
Posted: December 19th, 2013 under ACCESSWIRE.