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Article: Riverside Resources Options Ventosa Project to Arcus Development Group
- Article from:
- CCNMatthews Newswire
- Article date:
- April 18, 2008
CopyrightCopyright 2008 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2008) -
Riverside Resources Inc. (TSX VENTURE:RRI) is pleased to announce
that it has signed a Letter of Intent with Arcus Development Group
(TSX VENTURE:ADG) whereby Arcus can earn a 51% interest in
Riverside's Ventosa Project by paying Riverside $150,000, issuing to
Riverside 200,000 Arcus common shares, and incurring $2,000,000 in
exploration expense on the property, over the next three years.
Earlier this year, Riverside Resources identified, staked and laid
claim to the Ventosa Property located in southeastern Oaxaca,
Mexico, based on favorable geology and its own proprietary database
of Mexican geology with more than 44,000 mineral ...