Business
Mineral Hill Announces Letter of Intent for its Praxis Goldfields Project
Trading Symbols: ---------------- TSX Venture Exchange: MHI
About this update from Gold Strategy Inc.
[{"type":"text","content":"\n\n\n\nTrading Symbols:\n----------------\n\nTSX Venture Exchange: MHI\nFrankfurt Stock Exchange: N8Z/WKN: AODLHP\n\n\nVANCOUVER, Nov. 24 /CNW/ - Mineral Hill Industries Ltd. ("MHI" or the\n"Company") is pleased to announce that it has concluded a letter of intent\n("LoI") with North Ridge Resources Ltd. ("North Ridge") to enter in an\n"Earn-In-Option" agreement with respect to the Company's gold exploration\nproject Praxis Goldfields ("Goldfields"). Under the LoI, North Ridge will be\nrequired to spend a minimum of $900,000 over three years on exploration costs\non Goldfields and will issue a minimum of 300,000 common shares to the\nCompany. As MHI s primary focus in 2009 will be the further development of its\nrenewable energy project, operated through its subsidiary Nass Energy Inc, the\nCompany is looking forward to working with North Ridge as partner to complete\nthe 2009 exploration program of its Goldfields project.\n\n\nNorth Ridge is a private company with a seasoned and exploration\nexperienced Board of Directors which is determined to start the field work in\nsummer of 2009.\n\n\nMHI regrets to announce the resignation of Dr. Peter Lewis as a director\nand member of MHI's exploration committee and the environmental & safety\ncommittee, due to his heavy outside commitments. The Company also regrets that\nMr. Patrick H. Pettman is also leaving the Board to devote more time to his\nother personal commitments. The Board of Directors and Management record their\nappreciation to Dr. Lewis and Mr. Pettman for their invaluable contributions\nto the Company during their term as directors and committee members of the\nCompany.\n\n\n-------------------------------------------------------------------------\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this news release.\n\n\n","length":2033,"tagName":"div"}]