Mr. Kevin Bottomley reports
KING'S BAY SELLS MENARY GOLD PROJECT
King's Bay Gold Corp. has entered into an agreement, pending exchange approval, with Destroismaison CLM Holdings Corp., a newly formed private company, in regard to the Menary gold project, located in the Kenora mining division of Ontario.
In exchange for 100 per cent of the right, title and interest in and to the Menary gold project, consisting of one mining lease and five unpatented claims, the vendor shall receive 15 per cent of the existing shares of the purchaser. The purchaser shall retain for the period of 24 months from the date of execution, the option to purchase back the entirety of the 15-per-cent share position of the vendor for $100,000.
Kevin Bottomley stated, "This transaction allows King's Bay the ability to focus on our stated goal of exploring for cobalt and other high-tech metals, while maintaining exposure to the potential of one of our non-core assets."
About King's Bay
King's Bay is focused on the exploration of cobalt and other high-tech metals in North America. The company believes in this emerging fast-growth sector and will continue to seek out and evaluate properties that show promise for development.
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