Golden Fame Resources Corp TSXV:GFA announced that it has a signed a letter of intent to acquire up to a 70% interest in the Algun Dia Project, located in the Leon-Guanajuato region of Mexico. To earn an initial 50% of the property, Golden Fame must pay $800,000, issue 2 million common shares and spend $2 million on it. To earn an additional 20%, Golden Fame must pay $3.5 million, issue 1 million common shares and spend a further $4.5 million.
President/CEO Graham Clark said, “Algun Dia fits perfectly into our strategic vision of acquiring historically productive properties and putting them into production. Algun Dia has significant values of gold, silver and copper and allows us to take advantage of the robust increase in the prices of all three of these metals.”
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by Ted Niles