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Article: Gryphon Gold Enters Into Option Agreement to Sell Its Regent Hill Property, Nevada for $2.5 Million Plus Royalty to New Era Precious Metals.
- Article from:
- Marketwire Canada
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. 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, Oct 29, 2009 (Marketwire via COMTEX) -- Gryphon Gold Corporation (TSX:GGN)(OTCBB:GYPH) is pleased to report that its wholly owned subsidiary Nevada Eagle Resources (NER) has entered into an option agreement to sell its 100% owned Regent Hill Property to New Era Precious Metals for $2,500,000.
Regent Hill is located 1.5 miles northwest of Kennecott Minerals' Denton-Rawhide Mine. The property consists of 110 contiguous unpatented lode claims covering approximately 2,272 acres in Mineral County, Nevada.
New Era Precious Metals (Nevada) Inc. (NEPM) has the right to purchase the Regent Hill Property on the following terms: