The TSX Venture Exchange has accepted for filing the property option agreement between the company, and Zimtu Capital Corp., DG Resources Management Ltd. and Ridge Resources Ltd., whereby the company can acquire a 100-per-cent interest in the Garland property, Labrador, Canada. The property comprises 25,050 hectares approximately 30 kilometres southeast of Voisey's Bay. The transaction is a non-arm's-length transaction.

In order to acquire property, the company must pay a total of $80,000 in cash, issue 7,999,998 shares over a 36-month period and complete an airborne geophysical survey within one month. There is a gross overriding royalty (GORR) of 2 per cent payable to DG.

Zimtu Capital:  $40,000 and three million shares

DG Resources Management:  $40,000 and three million shares

Ridge Resources:  1,999,998 shares

Further information on the transaction is available in the company's news release dated Sept. 25, 2014.

Insider:  Zimtu Capital, three million

Consideration:  $80,000 cash and 7,999,998 shares; airborne geophysical survey