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Nexus Gold confirms option deal over Bouboulou gold concession in Burkina Faso

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Nexus Gold confirms option deal over Bouboulou gold concession in Burkina Faso

Nexus GoldCorp. entered into a definitive agreement with Bureau D'Etudes desGeosciences et de L'Environnement for a to earn up to 100% interest in theBouboulou gold concession located in Burkina Faso.

The company will have an option to acquire up to a 75%interest in the property by paying US$500,000 cash and issuing 900,000 commonshares over three years, it said July 11.

Nexus can then acquire the remaining 25% interest by payingUS$1 million in cash and a 1% net smelter return royalty.

The company signed a letter of intent for the earn-in in late March.