Business
Pure Nickel Reports Settlement on Utah Property Litigation
Jul. 13, 2011 (Canada NewsWire Group) -- TORONTO, July 13, 2011 /CNW/ - Pure Nickel Inc. (TS...
About this update from Galleon Gold Corp
[{"type":"text","content":"\n\n\n Jul. 13, 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\nTORONTO, July 13, 2011 /CNW/ - Pure Nickel Inc. (TSX: NIC) (OTCBB: PNCKF) today announces that it reached a binding letter of intent with a group\n led by Skye Mineral Partners, LLC relative to Pure Nickel's position in\n the Milford, Utah copper project currently controlled by the Western\n Utah Copper Company. Western Utah Copper Company ("WUCC") and its\n parent Copper King Mining Corporation filed for bankruptcy in May 2010.\n Skye has already purchased the majority of the secured debt of the\n project, making Skye the largest secured creditor of WUCC thus putting\n it in a position of being the leading candidate to provide the fastest\n resolution to the bankruptcy case.  This letter of intent paves the way\n for Skye and its partners to ultimately acquire the project once the\n current bankruptcy situation is resolved.\n\n\nIn 2002 Nevada Star Resource Corp. (U.S.), a wholly-owned subsidiary of\n Pure Nickel, granted an option agreement to WUCC on all of Nevada\n Star's mining properties near Milford, Utah.  In November 2008, WUCC\n failed to put the Nevada Star claims into production as it was required\n to do under the terms of the agreement, thereby entitling Nevada Star\n to exercise its option to reacquire the claims.  In June 2009, after\n repeated attempts to confirm the precise production status of the\n project, Nevada Star launched an action asking the Federal Court in\...