Brief: Orex, Canasil And Pan American Sign Letter Of Intent To Advance Exploration In Sandra Escobar Mining Camp

Canasil Resources

19/12/2017 13:30

Dec 19 (Reuters) - Orex Minerals Inc  REX.V : 
    * OREX, CANASIL AND PAN AMERICAN SIGN LETTER OF INTENT TO 
ADVANCE 
THE EXPLORATION IN THE SANDRA ESCOBAR MINING CAMP, DURANGO 
STATE, MEXICO 
    * OREX MINERALS INC - OREX-CANASIL JV WILL GRANT TO PAN 
AMERICAN 
AN UNDIVIDED 10% INTEREST IN SANDRA PROPERTY 
    * OREX MINERALS- IN 4 YEARS AFTER DEFINITIVE AGREEMENT, PAN 
AMERICAN TO HAVE RIGHT TO EARN 41% MORE INTEREST IN SANDRA 
PROPERTY VIA SOME CONTRIBUTIONS 
    * OREX MINERALS - UPON COMPLETION OF REQUIRED FINANCIAL 
CONTRIBUTIONS BY ALL PARTIES, PAN AMERICAN WILL HOLD AN 
UNDIVIDED 51% INTEREST IN PROPERTIES 
    * OREX MINERALS - UPON COMPLETION OF REQUIRED FINANCIAL 
CONTRIBUTIONS OREX-CANASIL JV WILL HOLD UNDIVIDED 49% INTEREST 
IN ESCOBAR AND SANDRA PROPERTIES 
 
Source text for Eikon:  ID:nPn5GRGpfa  
Further company coverage:  REX.V  
 
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