Mr. Fraser Laschinger reports
VOYAGEUR MINERAL EXPLORERS CORP. OPTIONS NORTH STAR PROJECT
Voyageur Mineral Explorers Corp. has entered into an option agreement with Boreal Gold Inc. whereby BGLD may acquire a 100-per-cent interest in the company's North Star project, located 50 kilometres west of Snow Lake, Man. To exercise the option, BGLD must fulfill the following conditions over a four-year term:
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Pay $10,000 in cash on signing, an additional $10,000 in cash on each of the first, second and third anniversaries of signing, and $10,000 in cash upon exercise of the option;
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Issue 500,000 common shares in BGLD on signing and an additional 500,000 common shares in BGLD, on or before the first anniversary of signing;
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Incur exploration expenditures aggregating $100,000 on or before each of the first and second anniversaries of signing, and an additional $150,000 in exploration expenditures on or before the third anniversary of signing;
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Grant Voyageur a 1.5-per-cent net smelter return royalty upon the exercise of the option, subject to the right to repurchase one-third of the NSR for $500,000.
"We wish Boreal Gold success at the North Star project, and we look forward to following the advancement of their exploration initiatives," commented Fraser Laschinger, president and chief executive officer of the company.
About Voyageur Mineral Explorers Corp.
Voyageur is a Canadian junior mineral exploration company with a specific focus on mineral properties in northwestern Manitoba and northeastern Saskatchewan, Canada. The company owns a valuable package of royalties in the prolific Flin Flon greenstone belt, including: a net tonnage royalty on a portion of Foran Mining Corp.'s McIlvenna Bay project, including the McIlvenna Bay deposit, and the Tesla zone; an NSR on Foran Mining's Bigstone deposit; and an NSR on a portion of Callinex Mines Inc.'s Pine Bay project, including the Rainbow deposit.
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