|
|
Article: Arcus Development Group Options Chapalota Gold Prospect From Riverside Resources
- Article from:
- CCNMatthews Newswire
- Article date:
- April 14, 2008
CopyrightCopyright 2008 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2008) -
Arcus Development Group Inc. (TSX VENTURE:ADG) is pleased to
announce that subject to TSX Venture Exchange acceptance, Riverside
Resources Inc. (TSX VENTURE:RRI) has granted Arcus an option to
acquire up to a 65% interest in the 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 350,000 Arcus shares to ...