Alliance Mining Corp.'s shares rose by over 11% in Toronto on Feb. 14 after the company announced the purchase of net smelter rights on the Cud 1 and Cud 2 claim blocks at the Red Rice Lake gold property in Manitoba.

The company will pay C$10,000 for the purchase, to be settled in common shares based on a price of 5 Canadian cents per share.

Alliance recently acquired the NSR on four claim blocks at Red Rice Lake.

The company holds an option to acquire 100% of the Red Rice Lake property.