The TSX Venture Exchange has accepted for filing documentation pertaining to an letter agreement dated as of Sept. 21, 2011, between Oremex Gold Inc. and Oro Mining Ltd., a TSX Venture Exchange-listed company, whereby the company may acquire up to an undivided 75-per-cent interest in certain mineral claims, located in the Concordia region of Sinaloa state, Mexico.
Under the terms of the agreement, the company will earn a 75-per-cent interest in the Gausima project by making total cash payments of $317,000, issuing 1.11 million common shares and incurring $4,275,000 in exploration expenditures on or before Dec. 1, 2015.
Under the terms of the agreement, the company will earn a 75-per-cent interest in the Concordia project by making total cash payments of $463,000 and issuing 1,665,000 common shares on or before Dec. 1, 2015.
For further details, please refer to the company's news release dated Sept. 26, 2011.
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