Under the terms of the option agreement, Great Thunder can acquire a 100% interest in the Rodgers Cove claim group from the optionors by paying $35,000 immediately, issuing 849,915 shares in three tranches over two years, incurring $250,000 of exploration expenses within two years and granting a 2% net smelter returns royalty.
The property is within the Exploits Subzone of the Dunnage Zone close to the boundary between the Gander and the Dunnage Zones and is hosted within the Charles Cove siltstone formation of the Indian Islands Group.
Mr. Mike Kilbourne, P.
The QP has not completed sufficient work to verify the historic information on the Rodger Cove property particularly regarding historical exploration, neighbouring companies, and government geological work.
Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.