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Article: Riverside Resources Signs Letter of Intent to Option Chapalota Gold Project, Sinaloa, Mexico to Arcus Development Group
- Article from:
- CCNMatthews Newswire
- Article date:
- April 14, 2008
CopyrightCopyright 2008 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2008) -
Riverside Resources Inc. (TSX VENTURE:RRI) is pleased to announce
that Arcus Development Group (ADG) and Riverside have signed a
Letter of Intent where by Arcus Development Group may earn a joint
venture interest in Riverside's Chapalota gold prospect, located in
southern Sinaloa, Mexico near Geoinformatics La Noria Project and
south of US Gold's Magistral Mine. The Chapalota property was
acquired by Riverside through staking and is wholly-owned by
Riverside.
To exercise an initial option and acquire a 51% interest in the
Chapalota property, Arcus is required to pay Riverside $300,000
cash, issue Riverside 350,000 Arcus shares and ...