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Abcourt Mines options eight claims near Aldermac
2008-02-29 09:52 ET - News Release
Mr. Renaud Hinse reports
ABCOURT ENLARGES ITS ALDERMAC PROPERTY
Abcourt Mines Inc. has recently optioned a group of eight claims in Beauchastel township in northwestern Quebec, adjacent to the gold-silver-copper-zinc Aldermac property. These claims cover 286.9 hectares of favourable geology on the west side of the Aldermac property. The conditions are as follows:
- At signature, $9,000 cash, 75,000 Class B shares of Abcourt Mines at the price of 44 cents per share and 300,000 warrants, with each warrant giving the right to buy one Class B share at 50 cents per share over a period of two years;
- $9,000 per year at the first, second and the third anniversaries of the agreement.
Securities that will be issued pursuant to this private placement must not trade before June 28, 2008. This option has to be approved by the TSX Venture Exchange.
The current Aldermac drilling program has been expanded from 3,500 metres to 5,000 metres. The first results will be published next week.
We seek Safe Harbor.
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