AldeverResources Inc. said April 28 that it has entered into an agreementwith an arm's length vendor to acquire the Lac D'Or claims, which forms part ofAldever's Urban Barry gold project.
The four claims cover a 224-hectare area. Aldever Resourcesnow owns 1,521 hectares in the region.
Aldever can acquire a 100% interest in the claims by issuingthe vendor 900,000 common shares within five days of TSX Venture Exchangeapproval, and paying the vendor C$50,000 in 18 months. Aldever must also incurC$200,000 in exploration expenditures over a five-year period.
The vendor will retain a 1% gross overriding royalty.Aldever can purchase half of this royalty for C$1 million.
Aldever began acquiring Urban Barry in November 2015.