Mining & Metals
Falcon Gold Signs Option Agreement to Acquire West Hammond Contact Property in Ontario
Falcon Gold (FG.V) has signed an option agreement to acquire the West Hammond Contact Property, which consists of 156 mining claims in northwestern Ontario.As per the terms, Falcon must pay C$135,000 in cash, issue 1 million common shares, and incur at least C$600,000 in exploration expenditures over the four-year option period.The vendor will retain a 2.0% net smelter return (NSR) royalty, of which 1% may be bought by Falcon, at any time, for C$1 million.
$FG.V
