Mining News: Northern Neighbors: Golden Predator adds properties near 3 Aces

Golden Predator Mining Corp. Jan. 3 said it has entered into an agreement to acquire Bearing Resources Ltd.’s interest in mineral claims in the Upper Hyland River area of Southeastern Yukon. The claims included in the agreement are HY-Jay, a property immediately northwest of Golden Predator’s 3 Aces gold project; VF, immediately southeast of 3 Aces; and VM, which consist of two claim blocks situated further northwest. To acquire the claims, Golden Predator has agreed to pay Bearing C$275,000 over four years. In addition, Golden Predator will issue 35,000 common shares to Bearing upon the TSX Venture Exchange approving the transaction, and a further 50,000 shares eight months later. Golden Predator has also agreed to issue up to C$600,000 worth of common shares 20 months, 32 months, and 48 months from the execution date. Bearing will retain a 2 percent net smelter return royalty on certain of the claims and a 1 percent NSR on the balance of the claims. Golden Predator may buy half of the NSR for C$1 million.

-Shane Lasley