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OroAndes in Deal to Buy Kilometre 26 Property from Eastfield; Shares Under Halt

OroAndes Resource Corp. (OAR.V) this afternoon said it has a deal to acquire the so-called Kilometre 26 property from Eastfield Resources Ltd. (ETF.V) in exchange for 20 million shares of its common stock. OroAndes shares have been halted all day Monday, last trading at 11 cents each.

Eastfield late last month said recent sampling at the 9,800-hectare Kilometre 26 property returned grades ranging between 0.19% to 0.25% nickel. Geophysical surveys extended the strike length of a strong magnetic anomaly to more than 4.5 kilometres and is thought to be the source of much, if not all, of the nickel-mineralized rubble that has been located on the property.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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