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Ely Gold acquiring Nev. mining claims from Eastfield Resources

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Ely Gold acquiring Nev. mining claims from Eastfield Resources

Ely Gold & Minerals Inc. said May 26 that it signed a deal with Eastfield Resources Ltd. to acquire 18 patented mining claims in Nevada's Esmeralda and Nye counties for C$50,000 in cash and 300,000 common shares.

The Tonopah-Hughes claims comprise 11 patented lode claims and seven fractional patented lode claims. Ten of the claims are also subject to a 2% underlying net smelter royalty while the other eight are subject to a 3% NSR.

The transaction is subject to further due diligence and TSX Venture Exchange approval.