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Silver Predator, Montego ink option for Taylor silver property in Nevada

Silver Predator Corp. said April 3 that it entered into an option agreement with Montego Resources Inc. in which the latter can acquire the former's Taylor silver property in Nevada.

Under the terms of the deal, Montego will pay US$1.2 million in cash, incur more than US$700,000 in expenditures and issue 2.5 million common shares over a three-year period to Silver Predator.

Silver Predator will retain a 2% net smelter royalty and a 1% net profit royalty.

The transaction is subject to certain conditions, including approval from the TSX Venture Exchange.