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San Gold Strikes Deal for Claims Near Its SG#1 Deposits in Manitoba

San Gold Corp (SGR.TO) is over 1% higher today in choppy trade after announcing a deal last night to acquire up to an 80% interest in 18 mineral claims adjacent to the miner's SG#1 deposit near Bissett, Manitoba.

Under the option agreement, San Gold has spend at least $1.5 million for staged exploration activity over the next four years. The company also will be required to purchase $200,000 of units to be offered in an upcoming private placement by Cougar Minerals Corp (COU.V), the current owner of the property.

Cougar shares are flat today at $0.04 each.

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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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