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Discovery Harbour Granted Option to Purchase 100% Ownership of Nevada Project
/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER THE UNITED STATES NEWSWIRE SERV...
About this update from Discovery Harbour Resources Corp.
[{"type":"text","content":"\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER THE UNITED STATES NEWSWIRE SERVICES./\n\n\n\nVANCOUVER, June 20, 2014 /CNW/ - Discovery Harbour Resources Corp (\"DHR\" or the \"Company\") (TSX-V:DHR) is pleased to announce its entry into an Exploration License with Option to Purchase dated June 19, 2014 (the \"Agreement\") with Blind Mice Mining Company Inc. (the \"Optionor\"), whereby the Optionor granted the Company an option (the \"Option\") to acquire 100% ownership of the 2BAR project (the \"Property\") located in the Table Mountain Mining District, Churchill County, Nevada. The 2BAR project is comprised of eleven patented mining claims comprising approximately 227.26 non-contiguous acres (91.97 hectares). \n\nGeneral terms of the Agreement are:\n\n\n\n•   \n\nThree year option period with annual payment schedule of: (all amounts in US$)\n\n\n\n\n\nANNIVERSARY \nOPTION PAYMENT\n\n\n\nUpon Execution (within two days of signing)\n\n\n$50,000\n\n\n\n\nFirst Anniversary\n\n\n$50,000\n\n\n\n\nSecond Anniversary\n\n\n$50,000\n\n\n\n\nThird Anniversary-Purchase\n\n$2,100,000\n\n\nTotal Purchase Price\n$2,250,000\n\n\n\n•  \n\nDHR may exercise its Option to purchase 100% ownership of the Property at any time by paying the $2,250,000 purchase price, less any option payments made previous to its decision to exercise the Option;\n\n\n\n\n•  \n\nUpon exercise of the Option by payment of the total purchase price of $2,250,000, DHR will own 100% of the Property and all attendant mining rights to the claims. There are no royalties due to the landowner;\n\n\n\n\n• \n\nDHR is granted exclusive rights to explore the property for three (3) years from the date of entry into the Agreement; and\n\n\n\n\n•  \n\nDHR may terminate the Agreement at any time.\n\n \n\nDHR is aware of five vertical shafts of unknown depths and eight adits and drifts of unknown lengths, all within the patented claim blocks comprising the property. Previous sampling encountered high grade copper and silver mineralization at surface. DHR's Qualified Person has been unable to verify the above information and it is not necessarily indicative of mineralization on the property. \n\nA due diligence trip to the properties is presently being arranged. This trip will serve to determine if any ...