Northern Shield Resources Inc. signed a binding option agreement with Canada's Conseil de la Nation Innu de Matimekush-Lac John, to acquire three claim blocks totaling 82 claims in Labrador Trough, Quebec.
The claims are believed to be highly prospective for nickel-copper-platinum group elements.
Under the terms, the company can acquire the claims by reimbursing staking costs and issuing 100,000 shares on signing, as well as issue 150,000 shares on the first deal anniversary and a further 200,000 shares on the second anniversary.
Northern Shield also acquired, through map designation staking, 134 claims covering PGE and gold targets, including a till sample that contained 66 grains of gold.
The company will kick off exploration at the new claims and Sé2 prospect next week, according to a June 7 release.