Kinross Gold Corporation (TSE-K, NYSE-KGC) has exercised its option with Falconbridge Limited ("FL") to acquire a number of gold exploration properties in Ontario and Quebec
Toronto, Ontario - Kinross Gold Corporation (TSE-K, NYSE-KGC)
has exercised its option with Falconbridge Limited ("FL") to
acquire a number of gold exploration properties in Ontario and
Quebec for Cdn $1,900,000. Under the terms of a Participation
Agreement dated June 15, 1994 between Kinross and Pentland Firth
Ventures Ltd. ("Pentland"), Pentland paid Kinross Cdn $400,000 as
its share of the exercise of the FL Option. As a result of this
transaction Kinross has acquired one property in Ontario, located
east of the Hoyle Pond Mine and a number of properties in Quebec
while Pentland has
acquired 16 properties in Ontario. Kinross has increased its focus
on growth through exploration and has recently opened an
exploration office in Val d'Or to address the appropriate
exploration of these properties, some of which will likely be
optioned to other interested companies.
Cautionary Statement on Forward-Looking Information
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
