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ZIMTU CAPITAL CORP. OPTIONS PACKAGE OF SEVEN RARE METAL PROJECTS IN SOUTHERN BRITISH COLUMBIA TO FIRST GOLD EXPLORATION
ZIMTU CAPITAL CORP. OPTIONS PACKAGE OF SEVEN RARE METAL PROJECTS IN SOUTHERN BRITISH COLUMBIA TO ...
About this update from Zimtu Capital Corp.
[{"type":"text","content":"\n\n\n\n Dec. 15, 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, Dec. 15 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1)\n ("Zimtu") is pleased to announce that Zimtu and two of its prospecting\n partners have signed an agreement with First Gold Exploration Inc.\n (TSXv: EFG) (FSE: F12) (OTCQX: FGEXF) ("First Gold") whereby First Gold\n can earn a 100% interest in a package of seven rare earth element\n ("REE") and niobium properties located in southeastern British\n Columbia.\n\n\nFor its participation in the transaction, Zimtu will receive staged cash\n and share payments from First Gold as follows: (i) $12,500 on signing;\n (ii) $50,000 and 1,000,000 common shares on TSX Venture Exchange\n ("TSXv") acceptance; (iii) 500,000 common shares on the first\n anniversary; and (iv) 500,000 common shares on the second anniversary.\n Zimtu's partners, Cathro Resources Corp. and Cazador Resources Ltd.\n will together receive cash and share consideration equal to that of\n Zimtu.\n\n\nDuring the term of the agreement, First Gold shall ensure that the\n claims are maintained in good standing. The vendors will retain a 2%\n Net Smelter Royalty ("NSR") on the properties; 1% of which can be\n purchased by First Gold for C$1 million and the second 1% of which can\n be purchased by First Gold for C$5 million. The transaction is subject\n to acceptance by the TSXv.\n\n\nThe seven properties: the Kin, Trident, IRC, Munroe, Hiren, ...