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Article: Garnet Point Options Boulder Creek Uranium Deposit from Full Metal.
- Article from:
- Business Wire
- Article date:
- April 5, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, British Columbia -- Garnet Point Resources Corp. (TSX VENTURE:GRC)(OTCBB:GRCDF) is pleased to announce that it has optioned up to an 80% interest in the Boulder Creek Uranium Deposit, Alaska from Full Metal Minerals.
Garnet Point can earn an initial 70% interest, subject to regulatory approval, in the Boulder Creek and McCarthy Marsh Properties by completing US$2,000,000 in exploration expenditures over four years (first year, US$150,000), making cash payments totaling US$90,000 (first year, US$60,000), and issuing 500,000 shares in Garnet Point (200,000 first year). After earn-in, Garnet Point can receive an additional 10% interest (80% total) ...