Escape Gold property agreement with Shoreham, MacDonald

Escape Gold Inc (C:EGT)
Shares Issued 26,751,193
Last Close 11/11/2009 $0.165
Tuesday November 17 2009 - Property Agreement

The TSX Venture Exchange has accepted for filing a letter of intent dated Oct. 15, 2009, among Shoreham Resources Ltd., MacDonald Mines Exploration Ltd. and Escape Gold Inc. (the company), whereby the company will acquire a 100-per-cent interest in the mineral exploration property comprising 36 mining claims located in the Red Lake mining district of the province of Ontario. In consideration, the company will pay Shoreham $50,000 in cash, issue 400,000 shares and 400,000 share purchase warrants exercisable at 40 cents per share for two years. Shoreham will retain a 2.5-per-cent net smelter royalty on the original 40-per-cent Shoreham mineral claims; 1 per cent of the royalty can be purchased by the company for the sum of $1-million. In addition, the company will issue 100,000 shares to MacDonald, and Shoreham will issue 250,000 shares of Shoreham to MacDonald