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Tajiri to exercise revised option to acquire Middle Island's Reo gold project

Tajiri Resources Corp. said May 14 that it will exercise a previously announced option to acquire the Reo gold project in Burkina Faso from Middle Island Resources Ltd., following the completion of satisfactory due diligence.

Under the revised deal, the company will now issue 5 million shares for the property immediately upon entering the option, instead of over 15 months as initially stipulated. Taijri would also make the first year payment on the option of US$150,000 in cash.

The sale is part of Middle Island's divestment of noncore assets to fully focus its efforts on its advanced-stage Sandstone gold project in Western Australia.