BONTERRA RESOURCES: 3-facher Area Play (Decade, Fi

Bonterra agreement with Golden Valley Mines

2016-03-16 16:11 ET - Property Agreement

Also Property Agreement (C-GZZ) Golden Valley Mines Ltd

The TSX Venture Exchange has accepted for filing documentation a property option agreement dated March 10, 2016, between Bonterra Resources Inc. and Golden Valley Mines Ltd. whereby Bonterra has been granted an option to purchase an 85-per-cent interest in the Lac Barry property that is located in Quebec. Consideration is $200,000 in common shares (at a deemed price of 38.5 cents, the market price on the day before exchange acceptance for a total of 519,480 common shares) and $2-million in exploration expenditures over a three-year period. The property is subject to a 3-per-cent net smelter return royalty of which Bonterra may purchase 1 per cent for $1-million subject to further exchange review and acceptance.