KalNorth Gold Mines Ltd. and Keras Resources Plc subsidiary Keras (Gold) Australia Pty. Ltd. have mutually agreed to terminate negotiations regarding the development of the Lindsays gold project in the Western Australian goldfields.

Earlier in the year, the companies were negotiating contractual terms and the respective participation of the parties in the proposed development of the project.

KalNorth noted in a Dec. 21 release that it will determine its future strategy with respect to the project, which has demonstrated both open-cut and underground mining potential.