The TSX Venture Exchange has accepted for filing the joint exploration agreement (JEA) dated Sept. 23, 2014, between Plate Resources Inc., Nexgeo Inc. and Korean Resources Corporations (KORES) (Nexgeo and KORES, collectively the consortium), whereby the company granted the consortium the right to acquire up to 70-per-cent interest in the Lucky Mike project in British Columbia, in consideration of the consortium making cash contributions in respect of exploration of the project.

In consideration of an initial 60-per-cent interest, the consortium will provide to the company:

• The first exploration contribution of $250,000 by Sept. 5, 2014 (paid), $100,000 by Sept. 30, 2014 (paid), $150,000 by completion of the drilling pursuant to the initial work program;
• The second exploration contribution of $1-million to finance at least one approved program between Jan. 1, 2015, and Dec. 31, 2015.

In consideration of an additional 10-per-cent interest, the consortium will provide to the company:

• The third exploration contribution of $1-million to finance at least one approved program between Jan. 1, 2016, and Dec. 31, 2016.

Further information on the transaction is available in the company's news releases dated Aug. 25, 2014, and Sept. 24, 2014.