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Telson Resources inks 30-year land use agreement for Mexican gold-base metals property

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Telson Resources inks 30-year land use agreement for Mexican gold-base metals property

TelsonResources Inc. said May 10 that its wholly owned Mexicansubsidiary, Real de La Bufa, renewed and extended a temporary land useagreement for surface rights at the 7,492-hectare Tahuehueto gold-base metals property.

The agreement with Comunidad La Bufa allows the company toexplore, develop and produce minerals within an area of 2,062 hectares over 30years, starting April 26.

The 30-year agreement can be extended upon request by Real,and is obligatory to Comunidad.

For the first year, the company will pay US$46,540 or theequivalent amount in Mexican pesos, and increase the payment by 5% every year.