EXMIN Options East Durango Property to Quaterra Resources

EXMIN Options East Durango Property to Quaterra Resources

VANCOUVER, BC – EXMIN Resources Inc. reported that it has signed a letter agreement with Quaterra Resources Inc. to joint venture EXMIN’s East Durango Property, Mexico. The East Durango property consists of the 11,181-hectare Tecolote concession which is 100%-owned by EXMIN’s Mexican subsidiary, EXMIN SA de CV. EXMIN’s Tecolote concession abuts and is directly north of Quaterra’s Mirasol-Americas projects, which are adjacent to the east boundary of Hecla Mining’s San Sebastian Project.
Under the terms of the agreement, Quaterra can earn a 75% interest in the East Durango property by spending $500,000 U.S. in exploration plus annual payments to EXMIN that total $100,000 U.S. over a four-year period.
According to Tom Turner, Quaterra’s Manager of Mexican Exploration, “This acquisition allows Quaterra to consolidate a large strategic land block in the center of the Mexican SilverBelt, a mining-friendly area of past and present silver and gold production with excellent infrastructure.”
The company’s address is 1066 West Hastings Street, Suite 2000, Vancouver, BC V6E 3X2, 866-493-9646, fax: (604) 806-6112, email: [email protected].