Hi-View Resources Buys Jim Property in Toodoggone Region in British Columbia

Hi-View Resources (GXLD.CN) bought the Jim Property in the Toodoggone Gold & Copper District of northern British Columbia, it said in a statement on Wednesday.

The company acquired 100% interest in the property from an arm's length vendor by issuing 100,000 of its common shares, making a CA$5,000 cash payment, and granting the vendor a 2% net smelter returns royalty (NSR) on the property, of which Hi-View has the right to buy back 1% for CA$1 million, it said.

"With a gossanous zone visible at surface, we believe this could indicate hidden sulphide mineralization at depth, possibly associated with a copper porphyry system," said Hi-View CEO R. Nick Horsley. "We see this as a target worth following up on."

The company's shares last traded Sept. 14, closing at CA$0.25 on the Canadian Securities Exchange.

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