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VISIBLE GOLD MINES OPTIONS CADILLAC MINING'S 60% INTEREST IN CADILLAC BREAK GOLD PROJECT
VISIBLE GOLD MINES OPTIONS CADILLAC MINING'S 60% INTEREST IN CADILLAC BREAK GOLD PROJECT
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n Dec. 7, 2010 (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\nVANCOUVER and ROUYN-NORANDA, QC, Dec. 7 /CNW Telbec/ - Cadillac Mining\n Corporation (TSXV: CQX) and Visible Gold Mines Inc. (TSXV: VGD and\n Frankfurt: 3V4) are pleased to announce that they have entered into an\n option agreement (the "Option") pursuant to which Visible Gold Mines\n has acquired an exclusive option to earn a 60% interest in 217 of\n Cadillac Mining's 228 claims in its Break Project, covering\n approximately 7423 hectares, in Rouyn, Beauchastel and Dasserat\n Townships, west of Rouyn-Noranda, Quebec. \n\n\nUnder the Option, Visible Gold may earn a 60% undivided interest in the\n Break Project over a period of four years by completing aggregate\n exploration expenditures of $4.2 million, issuing an aggregate 500,000\n common shares of Visible to Cadillac, and paying Cadillac a total of\n $100,000 cash.  The initial payment of $25,000 cash and 100,000 common\n shares is due to Cadillac prior to the commencement of work.  The\n balance of the payments to Cadillac are due in like annual\n installments.  In addition, Visible Gold has irrevocably committed to\n expend $500,000 in the first year of the Option.\n\n\nThe properties comprising the Break Project were staked in 2002 by the\n founders of Cadillac Mining Corporation.  Exploration to date has\n included a project-wide airborne geophysical survey, extensive\n lithogeochemical sampling, and diamond drilling.
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