The TSX Venture Exchange has accepted for filing the documentation relating to a letter of offer providing for the acquisition of 13 claims located in the province of Quebec, which were held by Tectonic Resources Inc. The consideration payable by the company consists in the payment of $15,000 cash and the issuance of 70,000 common shares of the company.

The vendor will retain a 1-per-cent net smelter return, payable quarterly, in case of commercial production on one or all of the claims. The first instalment shall be paid within three months following the commencement of commercial production. The company has a right, at any time, to repurchase the 1-per-cent NSR by paying the vendor $1-million.

For further information, please refer to the company's news release dated March 30, 2012.