Mega CopperLtd. said July 11 that it has signed an option agreement to fullyacquire the Quesnel Lake East property in British Columbia from arms' lengthparty Glengarry DevelopmentsCorp.
Quesnel Lake East consists of two mineral claims totaling196.52 hectares.
In exchange, Mega will pay C$50,000 in cash, issue 1 millionof its shares upon signing of the deal, and issue a further 1 million shares uponcompletion of a 43-101-1 report.
Mega is also required to incur at least C$50,000 onexploration on the property within the first year of signing and a furtherC$100,000 within the second year.