San Gold agreement for 18 Ontario mineral claims

San Gold Corp (C:SGR)
Shares Issued 300,408,146
Last Close 9/10/2010 $3.59
Monday September 13 2010 - Property Agreement

The TSX Venture Exchange has accepted for filing a purchase agreement dated Aug. 9, 2010, between San Gold Corp., SGX Resources Inc. and Canada Lithium Corp. (CLQ). San Gold and SGX have agreed to jointly acquire a 100-per-cent interest in 18 mineral claims held by CLQ located in Tully township, Porcupine mining division, district of Cochrane, Ont. In consideration San Gold will pay $100,000 cash and issue 150,000 common shares of San Gold and SGX will pay $100,000 cash and issue 600,000 common shares of SGX

SGX and San Gold will each acquire a 50-per-cent interest in the property. San Gold and SGX have also agreed that SGX will be required to pay the first $223,000 of exploration work on the property in order to earn its 50-per-cent interest in the property.

� 2010 Canjex Publishing Ltd.

Why this is important?

From Black Pearl Resources aka Canada Lithium Corp

On January 28, 2008, the company press released the results of the NI 43-101 Technical Report on the Timmins Gold Property in Tully Township. The property comprises 16 contiguous claims (261 hectares) about 30 km north-northeast of downtown Timmins. The Company and previous operators have drilled 37,910 metres in 170 holes on the property. The independent resource estimate states that there is an indicated resource of 93,140 ounces of gold at 8 gpt and an inferred resource of 139,888 ounces of gold at 7.3 gpt. The report states the geologic potential of the project is 1.5-2.5 million ounces.