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Nitinat to expand Carscallen project, secures option on 4 adjacent claims

Nitinat Minerals Corp. said March 12 that it signed an agreement that gave it the option to acquire four claims adjacent to its Carscallen gold property in Ontario from two arm's length parties, potentially expanding the project to more than quadruple its current size.

In exchange for the claims, Nitinat would have to pay the vendors C$65,000 and issue 1 million common shares on or before Jan. 10, 2020. According to the company, the claims cover an area of particular interest where surface exploration showed signs of historical surface mining.