Mr. Michael England of GeoNovus reports
GEONOVUS ACQUIRES CLAIMS ADJOINING OSISKO'S CANADIAN MALARTIC PROPERTY IN QUEBEC
GeoNovus Minerals Corp. has acquired 13 claims from Knick Exploration Inc., covering 507 hectares, of prospective property adjoining the northwest boundary of Osisko's Canadian Malartic property located in the prolific Abitibi gold belt in the province of Quebec.
To purchase a 100-per-cent interest in the Malartic West project GeoNovus will pay $20,000 and issue two million common shares of the corporation to Knick Exploration over a two-year period. A 2-per-cent net smelter royalty (NSR) is in place with the company having the right to buy back 1 per cent of the royalty for $1-million.
"We are very pleased to acquire claims in this much-sought-after area of Quebec and look forward to planning our upcoming work programs. The news on April 2, 2014, regarding the Yamana Gold Inc. and Osisko Mining Corp. agreement shows how important this district has become," stated GeoNovus president Mike England.
This transaction is subject to TSX Venture Exchange approval.
We seek Safe Harbor.
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