Targeting 1 million oz in mining/exploration-friendly Quebec
In North America, the Company is set to become an advanced stage gold and precious metal exploration company with its acquisition of the Windfall Lake Property, located near Val d'Or, Quebec.
  • Demo Video
  • Private Messages
  • Edit My Profile
  • View/Edit Portfolio

AGORACOM News Flash

AGORACOM WIRE - FRIDAY MAY 25TH, 2012

FOCUS METALS (TSXV:FMS) Changes Its Name to Focus Graphite Inc.

  • Aim to develop and manufacture the best technology graphite in the world
  • Additional shareholder value will come from investment in commercialized graphene through joint venture partner, Grafoid Inc.

Read More   |   *SPONSOR

INTERNATIONAL PBX VENTURES (TSX:PBX) Signs Copaquire Joint Venture Option Agreement - $90M Potential Payment Read More

AGORACOM Maintenance Alert: Friday Evening Downtime for About an Hour Read More

LOMIKO METALS (TSXV:LMR) Graphite and Zinc Price Outlook is Favourable Through 2013  Read More   |   *SPONSOR

 

 

Message: Freewest Find New Partner in Eagle Hill to focus Exploration at Windfall

Sea-animals_24
Rank: [?]
President
Points: [?]
17870
Rating: [?]
Votes: 299 Score: 3.7
  • Currently 3.7/5 Stars.
Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Freewest Find New Partner in Eagle Hill to focus Exploration at Windfall

posted on Oct 13, 09 05:02PM

Freewest Finds New Partner in Eagle Hill to Focus Its Exploration at the Windfall Gold Property in Quebec

Tue Oct 13, 4:27 PM

MONTREAL, QUEBEC--(Marketwire - Oct. 13, 2009) - Freewest Resources Canada Inc. (TSX VENTURE: FWR.V) announces that it had signed two agreements with Eagle Hill Resources Inc. (TSX VENTURE: EAG.V) and Murgor Resources Inc. (TSX VENTURE: MGR.V) whereby Freewest and Murgor will grant Eagle Hill the exclusive right to earn all of their interest in the Windfall Gold Property in north-western Quebec. The agreements are subject to regulatory approval. Murgor also signed a property management contract with Eagle Hill whereby Murgor will be conducting the exploration work financed by Eagle Hill.

Under the terms of the first agreement, Eagle Hill will be earning a 50% interest in 29 claims from Murgor (25%) and Freewest (25%) by paying $300,000 in cash and delivering 2.5 million common shares of Eagle Hill to Murgor and Freewest no later than October 31, 2009. Eagle Hill will also have to incur an aggregate of $4.0 million in exploration expenditures over the next three years. Murgor and Freewest retain a 2% Net Smelter Return royalty on the property which includes any ore extracted as a bulk sample. The remaining interest of 50% in the property is currently held by Noront Resources and is also under option by Eagle Hill.

Under the terms of the second agreement, Eagle Hill will be earning a 100% interest in 184 claims from Murgor (50%) and Freewest (50%) by paying $100,000 in cash and delivering 1,0 million common shares of Eagle Hill to Murgor and Freewest no later than October 31, 2009. Eagle Hill will also have to incur an aggregate of $1.5 million in exploration expenditures over the next three years. Murgor and Freewest retain a 2% NSR royalty on 105 claims of the property while retaining a first right of purchase on a 1% NSR royalty on the remaining claims.

Freewest is a well-financed mineral exploration company. It is actively exploring for gold, base-metals and chromite within eastern Canada. Corporate information can be accessed on the Internet at www.freewest.com. Freewest's shares are listed on the TSX Venture Exchange under the symbol FWR.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts

Mackenzie I. Watson
Freewest Resources Canada Inc.
President and CEO
(514) 878-3551 or 1-888-878-3551
(514) 878-4427 (FAX)
info@freewest.com
www.freewest.com

Michael D'Amico
Bay Street Connect
Investor Relations
(647) 500-6023

Investor Relations
AGORACOM
FWR@Agoracom.com
http://agoracom.com/ir/freewest

New Message

Please login to post a reply

AGORACOM Quick Tips

Small & Micro Cap 2.0 Blog by AGORACOM Members Read It Now

President's D.D.

New feature: Hub Presidents can add important links here.

Hub Leaders