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Article: NovaGold and TNR to Advance Rock Creek and Shotgun Gold Deposits.
- Article from:
- Business Wire
- Article date:
- February 18, 2002
CopyrightCOPYRIGHT 2002 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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Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 18, 2002
Two undeveloped Alaskan gold deposits, wholly owned by NovaGold Resources Inc. (TSE: NRI; OTC: NVGLF), advance closer toward production today with the signing of a Letter of Agreement with TNR Resources Ltd (CDNX: TRR).
Under the terms of the agreement TNR Resources would earn a 49.9% interest in the million-ounce Rock Creek gold deposit by spending US$10 million dollars towards exploration and development within the next three years to bring the deposit to production.
TNR Resources would also earn up to a 50% interest in the million-ounce Shotgun gold deposit ...