Manado Enters Into Agreement to Acquire up to 50% Interest in Sheep Creek, Bayonne, Ymir and Rossland Mineral Properties

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[{"type":"text","content":"\nManado Enters Into Agreement to Acquire up to 50% Interest in Sheep Creek, Bayonne, Ymir and Rossland Mineral Properties\n\n(via Thenewswire.ca)\n\n \nApril 26, 2013 - Vancouver, British Columbia. Manado Gold Corp. (\"Manado\") (TSX-V: MDO) is pleased to announce that it has entered into an agreement with Yellowstone Resources Ltd. (\"Yellowstone\") whereby Yellowstone has granted Manado the option to enter into a definitive agreement (the \"Definitive Agreement\") to acquire up to a 50% interest in the Sheep Creek, Bayonne, Ymir and Rossland mineral properties located in the Nelson and Trail Mining Divisions, British Columbia (the \"Properties\"). In consideration of the right to enter into the Definitive Agreement, Manado paid Yellowstone $10,000 on signing the agreement and will have 30 business days to complete its due diligence on the Properties.\n\n\n \nUpon Manado completing satisfactory due diligence, the parties will enter into a Definitive Agreement whereby Manado will be able to acquire a 50% interest in the Properties as follows:\n\n\n \n\n1.An initial 10% interest in the Properties upon incurring $450,000 of exploration work, which will include the removal and processing of a bulk sample of approximately 10,000 tons of material located on the Sheep Creek or Bayonne properties (the \"Bulk Sample\"), by December 31, 2013. \n\n\n\n\n2.An additional 10% interest in the Properties for each $500,000 of exploration expenditures incurred in four separate steps on or before September 30, 2014, June 30, 2015, March 31, 2016 and December 31, 2016, for a cumulative interest of 50% (including the initial interest) in the Properties. The exploration expenditures must relate to work programs consisting of up to three additional bulk samples, extensive drilling and tunnel rehabilitation and extension with the objective outlining mineral resources to permit the completion of a scoping study. \n\n\n\nManado has also agreed to advance $5,000 to Yellowstone on signing the Definitive Agreement and $5,000 per month thereafter during the option period unless returns are received from bulk sampling. Any net proceeds received from the bulk sampling will be split on a 50/50 basis between the parties.\n\n\n \nUpon Manado earning a 50% interest in the Properties, the parties will enter into a joint venture for the exploration and development...

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