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Deep-South to acquire 90% stake in Liberian gold project

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Deep-South to acquire 90% stake in Liberian gold project

Deep-South Resources Inc. signed a letter of agreement to acquire 90% of the gold-prospective St John project in Liberia from Sparrowhawk Gold Ltd.

The company can acquire 90% of Jarjlokpo Resources Ltd., which holds the Reconnaissance license forming the St John project, for US$20,000 and 250,000 common shares.

Deep-South is then required to pay a further US$105,000 and issue 750,000 shares over three years.

The agreement also includes the issuance of a further up to 1.25 million shares on confirmation of inferred resources.