Business
Nubian Acquires Idaho Sedex Prospect
Jul. 22, 2011 (Canada NewsWire Group) -- ABBOTSFORD, BC, July 22, 2011 /CNW/ - Nubian Resourc...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n Jul. 22, 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\nABBOTSFORD, BC, July 22, 2011 /CNW/ - Nubian Resources Ltd. (NBR:TSX.V)\n is pleased to announce that it has signed a lease agreement with\n Timberwolf Minerals Ltd., a private corporation, to acquire a 100%\n interest in Timberwolf's  Idaho Sedex lead-zinc-silver prospect area in\n Lemhi County, Idaho effective June 30th 2011.\n\n\nNubian paid the Lessor an upfront payment of USD $5,000 upon signature\n of the contract and will pay the Lessor a minimum annual payment on the\n anniversary date (June 30th 2011) of the signed agreement as follows:\n\n\na. Pay Lessor USD $10,000 on or before the first anniversary date, start\n of year two.\n\n\nb. Pay Lessor USD $10,000 on or before the second anniversary date,\n start of year 3, and each successive year thereafter, for as long as\n Lessee maintains this Agreement in good standing.\n\n\nc. From the start of production onward, Lessee shall pay Lessor USD\n $30,000 or a one percent (1%) NSR, whichever is greater. Each such\n payment shall be made on or before the successive anniversary of the\n execution of this lease. Royalty payments shall be made quarterly of\n each year. Lessee may purchase the NSR, on or before the Start of Year\n 6 of this Agreement for a final one-time buyout payment of USD\n $2,000,000 exclusive of all prior payments.\n\n\nAbout the Idaho Sedex Property\n\n\nThe prospect area, which includes the historic Worthing-Kauffman mine,\n is located...