The Schaft Creek mineral deposit is now owned by TeckCominco, a major mining corporation with international operations that include exploration ventures, operating mines, and metallurgical plants.

Salazar has an option by agreement dated January 1, 2002 to acquire 100% of TeckCominco’s defined ‘Direct Holding’, which is a 70% direct participating interest in the Schaft Creek property, by incurring $5,000,000 in expenditures as defined on or before December 31, 2006 and aggregate expenditures of $15,000,000 on or before December 31, 2011, and TeckCominco’s defined ‘Indirect Holding’, an indirect 23.4% carried interest through its 78% shareholding in Liard Copper Mines Ltd. who hold a 30% carried interest in the property, by incurring the above described $5,000,000 in expenditures and completing a positive bankable feasibility study, as defined, and delivering a Feasibility Notice to TeckCominco.

Our clock runs out Dec 31!