Business
Tiex - Announces Option to form Joint Venture Agreement with Newmont
Apr. 27, 2011 (Canada NewsWire Group) -- KELOWNA, BC, April 27 /CNW/ - Tiex Inc. ("Tiex&...
About this update from Bullion Gold Resources Corp.
[{"type":"text","content":"\n\n\n Apr. 27, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nKELOWNA, BC, April 27 /CNW/ - Tiex Inc. ("Tiex" or the "Company") (TSX-V: TIX) is pleased to announce through its wholly owned operating subsidiary (Bullion Gold Corp.), the\n completion of an earn-in option/ joint venture agreement with Newmont\n Canada Corporation, a subsidiary of  Newmont Mining Corp. ("Newmont")\n in relation to the Company's Bullion Property. The agreement\n encompasses 17 claims within the boundary of the Bullion Property.\n\n\nThe agreement calls for a 2 phase earn-in process. Phase 1 consists of a\n 5 year, $2.5 million minimum aggregate work expenditure for Newmont to\n earn 51% with a minimum 1st year commitment of $100,000. The agreement also provides Tiex Inc. cash\n payments in the aggregate of $375,000 by Newmont annually over the\n Phase 1 earn-in, with the minimum 1st year payment of $15,000. The cash amounts will be paid annually on or\n before the anniversary date of the agreement. Newmont may elect to\n discontinue Phase 1 earn-in at any time after the 1st year commitment in which case, it would retain no interest in the\n Property.\n\n\nUpon Newmont completing Phase 1 earn-in, Newmont at its sole discretion\n may elect to earn and vest in an additional 24% in the Property by (i)\n completing an additional $7 million in minimum work expenditures on the\n Property within an additional 4 years; or (ii) completing a positive\n feasibility study on ...