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UPDATE: Tarsis Acquires Mexico and Nevada Gold Properties from Almaden; Almaden Dips 4.4% Near Midday

By: MT Newswires
Posted: 3/4/2013 11:43:00 AM
Referenced Stocks: NSR

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.