UPDATE: Tarsis Acquires Mexico and Nevada Gold Properties from Almaden; Almaden Dips 4.4% Near Midday
Tarsis Resources Ltd. (TCC.V) has signed a non-binding Letter of Intent with Almaden Minerals Ltd (AMM.TO) to acquire a 100% interest in four gold/silver properties located in Nayarit and Jalisco, Mexico and two gold properties in Nevada, USA. Work is underway to consummate the acquisition through a formal agreement.
Tarsis will pay Almaden 4 million common shares and grant a 2% net smelter returns ( NSR ) royalty on any production from the projects.
Almaden is now down 9 cents to $1.97 near midday. Tarsis is unchanged at 9.5 cents.