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Genesis expanding holdings at Chevrier gold project in Quebec

Genesis Metals Corp. said Feb. 2 that it entered into a binding agreement to acquire a 100% undivided interest in the Hygrade property in Quebec, from Les Ressources Tectonic Inc.

The property comprises nine contiguous claims covering 254 hectares and is located within the boundaries of Genesis' Chevrier gold project.

Genesis is required to pay C$25,000 and issue 166,666 shares to Tectonic.

The property is subject to a 2% net smelter return royalty, half of which can be repurchased any time for C$1.5 million.