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Nevada Sunrise Announces Earn-In Agreement for The Golden Arrow Property in Nevada
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2014) - Nevada Sunrise Gold Corpor...
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":"\nNevada Sunrise Announces Earn-In Agreement for The Golden Arrow Property in NevadaVancouver, British Columbia--(Newsfile Corp. - November 25, 2014) - Nevada Sunrise Gold Corporation (TSXV: NEV) (\"Nevada Sunrise\" \nor the \"Company\") is \npleased to announce the signing of a letter agreement for its Golden Arrow \nproperty (\"Golden Arrow\", or the \"Property\") located in Nye County, Nevada, \nUSA.\nUnder the terms of the letter agreement, Atherton Resources LLC \n(\"Atherton\"), a private Nevada mineral exploration company, has until January \n31, 2015 (the \"Exclusivity Period\") to conduct due diligence on Golden Arrow, \nwhich will include an assessment by Atherton of all historical geoscientific \ndata, and a title opinion. Atherton shall have the right to extend the \nExclusivity Period for up to two additional sixty (60) day periods by paying to \nNevada Sunrise (a) US$25,000 on or before January 31, 2015, and (b) an \nadditional US$25,000 on or before March 31, 2015. The payments made by Atherton \nto extend the Exclusivity Period shall be applied to a payment of US$250,000 to \nbe made by Atherton upon signing a definitive agreement.\nThe terms for the definitive agreement described in the letter \nagreement allow Atherton to initially earn a 65% interest in Golden Arrow by \ncompleting eligible expenditures in the amount of US$4,500,000 at Golden Arrow \nduring a four-year period with a minimum expenditure in any year of US$750,000, \nand by making US$1.6 million in cash payments to Nevada Sunrise described below: \n\nPayments to Nevada Sunrise (All dollar amounts quoted \nare in US dollars)\n\n \n \n Upon Signing the Definitive Agreement \n $\n  250,000 \n  \n \n 1st Anniversary \n $\n  250,000 \n  \n \n 2nd Anniversary \n $\n  250,000 \n  \n \n 3rd Anniversary \n $\n  350,000 \n  \n \n 4th Anniversary \n $\n  500,000 \n  \n \n Total \n $\n  1,600,000 \n  \n \n  \n  \n  \n  \nUpon completing $4,500,000 in qualified work expenditures and \nfulfilling the cash payments, Atherton will have earned a 65% interest in the \nProperty. If during performance of obligations required to earn a 65% interest \nin Golden Arrow Atherton completes and presents to Nevada Sunrise a \npre-feasibility study for the development of a mine on the Property, t...