September 14, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Supatcha Resources Inc. (OTCBB: SAEI) said that it has entered into a letter of Intent with Balka Skyrokaya Ltd. The agreement covers the Balka Skyrokaya gold property located in the Ukraine.

Under the terms of the agreement, Supatcha Resources may earn up to an undivided 90% interest in the Balka Skyrokaya gold property. Supatcha said that it may acquire a 50% undivided interest in the property by making cash payments to Balka Skyrokaya Ltd. of $2 million over four years, with all or part of the payments being made in Supatcha stock.

To earn the 50% interest Supatcha must also complete work on the property in the amount of $5,000,000 over five years, with $500,000 being spent on the property in the first year of the agreement. After earning the 50% interest, Supatcha can then acquire an 90% interest by making additional cash payments of $1.5 million over four years (again with all or part of the payments being made in Supatcha stock equivalent, using a 20 day value weighted average price) and completing additional work on the property in the amount of $3 million over four years.

Colorado-based Supatcha Resources is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha said it is in the final stages of acquiring two additional gold mining projects in southwestern Ukraine.

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