w6w:

Re-read Feb. 8, 2007 Kerrs option agreement NR... back-in rights, up to 680k shares of OAK (i am currently calculating how many shares of new publicly traded company this will translate into), 15% management fee, manage aggressive exploration program. Sounds like favourable agreement for SGX IMO.

Great to hear Sheltered is very excited about drilling Kerrs and the possibility that Kerrs maybe the source of EXS-v drilling... LETS DRILL!

red911

"On closing, OAK will issue SAGE 180,000 common shares in the capital of OAK and grant SAGE the right to purchase by way of private placement 500,000 common shares of OAK at any time within a period of three years at a price of $1.00 per share from the date on which the common shares are listed and trading on a recognized Stock Exchange.

During the option period SAGE shall be the operator responsible for all prospecting, exploration, development and mining operations of the Sage properties and will receive a management fee equivalent to 15% of the Exploration Expenditures. SAGE will have a “Back-in Option” which will allow Sage to maintain operating and ownership control of the Kerrs property.

Nigel Lees, President and CEO, commented “We are very pleased with the agreement with OAK and believe the relationship will be highly beneficial to both parties. For Sage, we will manage the aggressive exploration program, maintain a significant interest in the Kerrs gold project with back-in rights and a meaningful share position in Sheltered Oak which plans to list on a Stock Exchange this year."