Business
Notice of Completion of Phase 3 of Earn In / Option Agreement
Notice of Completion of Phase 3 of Earn In / Option Agreement.
About this update from Dynaresource, Inc.
[{"type":"text","content":"DYNARESOURCE, INC.&DYNRESOURCE DE MEXICO, SA. DE CV.OCTOBER 15, 2008 NOTICE of COMPLETION OF PHASE 3 OF EARN IN AGREEMENT; DynaResource, Inc. and DynaResource de Mexico confirm the Completion of Phase 3 of the \"Earn In / Option Agreement (\"EARN IN\"), Dated September 1, 2006; by and Between: DynaResource, Inc. (\"DynaResource\") and DynaResource de Mexico SA. De CV., its previous wholly owned subsidiary (\"DynaMexico\"); and Goldgroup Resources, Inc., of Vancouver, British Columbia (\"Goldgroup\"). Pursuant to the terms of the EARN IN, the scheduled completion Date of Phase 3 was September 15, 2009; but at September 8, 2008, Goldgroup has completed the Phase 3 requirements. In a Meeting conducted by DynaMexico in Mazatlan, Sinaloa Mexico on October 10, 2008; Goldgroup was presented a Stock Certificate Representing 10 % of the Outstanding Shares of DynaMexico, in recognition of Goldgroup's completing the Phase 3 requirements. At the Completion of Phase 3, Goldgroup owns 25 % of the Shares of DynaMexico; DynaResource, Inc. owns 75 %. At September 8, 2008, Total Deposits to DynaMexico by Goldgroup are accounted for in excess of $ 6,900,000. USD. (Phases 1, 2, and 3). Total Expenditures reported and accounted for are approximately $ 63,000,000. Mexican Pesos (Phases 1, 2 and 3). Activities related to the Exploration and Development of SJG are continuing to be conducted by DynaMexico, through Contract to the operating subsidiary of DynaResource, Inc. in Mexico, Mineras de DynaResource SA de CV. (\"MinerasDyna\"); with the Management of Personnel being contracted by MinerasDyna through to the personnel management subsidiary, DynaResource Operaciones, SA de CV (\"DynaOperaciones\"). A \"Consolidated Statement of Exploration Activities\" is updated every 2 weeks by DynaResource Management; copies of the statement are available upon request. Approximately 15,150 Meters Drilling was accomplished in 56 Drill Holes in Phase 3 (Through August 31, 2008). (Highlights reported below). Previously, in Phases 1 and 2, Approximately 8,950 Meters drilling was accomplished in 44 Drill Holes. Additional activities being conducted are Geochemical sampling and mapping, and data consolidation into Surpac Software (Gemcom). ...