Business
Expansion of the El Creston Agreement
Jun. 29, 2011 (Canada NewsWire Group) -- Symbol:-TSXV.NA A VANCOUVER, June 29, 2011 /C...
About this update from Enduro Metals Corporation
[{"type":"text","content":"\n\n\n Jun. 29, 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\nSymbol:-TSXV.NAA\n\n\nVANCOUVER, June 29, 2011 /CNW/ - Sierra Iron Ore Corp (the "Company") is pleased to announce that it has successfully negotiated an amendment\n to the El Creston Agreement respecting the El Creston property. As\n previously announced, the Company acquired an option to earn a 50%\n interest in the El Creston property in Sinaloa, Mexico from Minera\n Copper Canyon de Mexico S.A. de C.V.(the "Owner"). The El Creston\n Agreement will pay the Owner a combination of cash and shares on a\n predetermined payout schedule that is both timeline and milestone\n driven. The agreement is subject to regulatory approval.\n\n\nThe amended agreement will expand the mining opportunity beyond the iron\n ore zones. The agreement will now include all economically recoverable\n minerals hosted by the El Creston property. There will be no further\n compensation paid by the company for this amendment.\n\n\n"The expansion of the El Creston Agreement is a reflection of the mutual\n desire by both companies to see a rapid drill program and the\n successful development of the El Creston property. The first stage,\n 2000 meter drilling program is now under way and management is looking\n forward to report the results from the drill program in the 3rd quarter of this year."\n\n\nThe company has granted 374,903 stock options to directors, officers and\n consultants under the company's stock opti...