Under the terms of the LOI, Duncastle may acquire a 100% interest in the Spy, Ultra and Catalyst/CKR properties by completing the following:
$50,000and issuing an aggregate 8.5 million shares to Denali (the underlying vendor) over 3 years for the Catalyst project; 2. Assuming the requirements of existing property agreements now in place for the Spy and Ultra properties by assignment from Ashburton, including the completion of $500,000in exploration work, $85,000in cash payments, and the issuance of 650,000 shares over 5 years; 3. Paying $5,000to Ashburtonfor the Ultra property and a further $5,000to the underlying vendor of the Ultra property, and; 4. Issuing 350,000 shares to Ashburtonfor purchase of the CKR claims and a further 150,000 shares to Ashburtonfor assignment of the Spy and Ultra claims.
The company looks forward to updating shareholders in the near future regarding progress at its highly prospective
ON BEHALF OF THE BOARD
Michael England, President Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of
FOR FURTHER INFORMATION PLEASE CONTACT:
Ashburton Ventures Inc. Michael EnglandPresident 1-604-683-3995 Toll Free: 1-888-945-4770 www.AshburtonVentures.com Source: Ashburton Ventures Inc.