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Rapier Gold to acquire Pen South property in Ontario

Rapier Gold Inc.said July 14 that it has entered into a deal to acquire the Pen South gold propertyin Ontario.

The company will pay C$325,000 and issue 1.5 million shares uponsatisfaction of the deal's terms, which is expected before July 31.

The property is subject to a 2% net smelter returns royalty,which can be purchased for C$3 million.

The agreement covers 10,848 hectares and replaces the previousoption to explore the property for gold.