Bayhorse Silver and Saturn Minerals Amend Farm-In Agreement
posted on
Mar 02, 2015 03:47PM
Mines Are Made - Not Found - And We Are Making Two Silver Mines
FEBRUARY 24, 2015 BHS2015-12
BAYHORSE SILVER & SATURN MINERALS AMEND FARM-IN AGREEMENT
Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse”) and Saturn Minerals Inc have, subject to TSX-V approval, amended the Farm-In Agreement dated November 3, 2014 and as announced in the Company’s news release BHS2014-24.
The terms for the Farm In Agreement to acquire 50% of Saturn’s oil and gas rights on the Little Swan property with respect to the Equalization Payment to Saturn is amended as follows:
Pay to Saturn $200,000, or , at the sole discretion of the Company, 2,000,000 common shares of Bayhorse, on or before 45 days after Exchange approval and $200,000, or, at the sole discretion of the Company, 2,000,000 common shares of Bayhorse, on or before 90 days after Exchange approval. All other terms of the Agreement remain unchanged.
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Bayhorse Silver Inc. is a junior exploration company that has entered into a Farm-In Agreement with Saturn Minerals to acquire a 25% interest in the Little Swan oil project, and is earning an 80% interest in its newly acquired historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. It has a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Red Queen), in the highly prolific West Coast South Island gold fields of New Zealand, which offers investors the potential for a major gold discovery.
The Company has a 30% Net Profit Interest in the Flagstaff barite mine in Washington State, where work is currently in progress. The Company has an experienced management and technical team with extensive exploration expertise. This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.
On Behalf of the Board
Graeme O’Neill, President