MURRAY BROOK MINERALS INC. announces an OPTION AGREEMENT to a JOINT VENTURE
with Votorantim Metals Canada Inc.
STE. ELISABETH D'AUTRAY, QC, Nov. 29 /CNW Telbec/ - Murray Brook Minerals Inc. (MBM) is proud to announce that MBM has entered into an Option Agreement (the 'Option') by which Votorantim Metals Canada Inc. (VMC) may earn an interest in MBM's Murray Brook Property (Murray Brook Deposit Mining Lease and Camel Back Mining Claims) located in the Bathurst Mining Camp, province of New Brunswick, upon the exercise of which a Joint Venture Agreement ('Joint Venture') shall be formed between MBM and VMC.
The Option grants to VMC the exclusive and irrevocable right and option to acquire a 50% undivided legal and beneficial interest in the Murray Brook Property by making exploration expenditures of $2,250,000 and option payments of $300,000 over a three year period.
If, on or before November 1, 2013, VMC has funded the Expenditures and made the payments to MBM as referred to above, VMC shall be deemed to have acquired and become the vested owner of a 50% undivided legal and beneficial interest in the Property, and the Joint Venture shall be deemed to have been created.
VMC has the option to earn an additional 20% (for a total of 70%) interest in and to the Murray Brook Property (the 'Additional Option') within ninety (90) days after the Joint Venture Date by funding an additional $2,250,000 in Expenditures during an additional two year Option Period
Votorantim Metals Canada Inc. is a subsidiary of Votorantim Metais, a company that is part of the Votorantim Group, which was founded in Brazil in 1918 and now operates in twenty countries and has over sixty-five thousand employees. Votorantim Metais is the largest electrolytic nickel producer in Latin America and one of the world's leaders in production of zinc, aluminum and steel.
Murray Brook Minerals Inc. is a mining exploration company founded in 2006 under the Canadian Federal Chartered Act, which hold the polymetallic Murray Brook Deposit and Mining Lease together with 215 claims of the Camel Back property adjacent to the Deposit. The properties are located in the Bathurst Mining Camp, New Brunswick. Murray Brook Minerals Inc. is also the owner of a Swiss gold exploration concession located in the Eastern Swiss Alps and of two Mining Leases containing high purity calcite and dolomitic marble in the Havelock-Bancroft Mining Camp of South Eastern Ontario. As well, MBM holds an Earn-In Option Agreement with NQ Exploration, Northern Quebec James Bay Territory.
For further information:
Jean-Jacques Treyvaud
President & CEO
Murray Brook Minerals Inc.
Tel. + 1 450 760 3877
Fax, +1 450 756 0200
Email: [email protected]
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