The TSX Venture Exchange has accepted for filing a property option agreement dated June 1, 2011, between Intigold Mines Ltd. and St. Elias Mines Ltd., whereby Intigold Mines has been granted an option to acquire a 60-per-cent interest in the Cueva Blanca gold property (1,200 hectares), located in the Lambayeque department, Peru. St. Elias Mines will retain a 40-per-cent interest in the property. Consideration payable to St. Elias Mines is $200,000 cash, one million common shares of Intigold Mines and $1.5-million in exploration expenditures over a three-year period.
St. Elias Mines retains a 1.5-per-cent NSR, with Intigold Mines having the right to acquire half of this NSR (0.75 per cent) for $1.5-million.
Insiders: Lori McClenahan, Duncan Bain and Murray Bracht
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