Viper Gold Announces Termination of Option Agreement on Grindstone Creek Property
Viper Gold Ltd. (VPR.V) announced the termination of the option agreement previously optioned on July 31, 2012. The agreement was originally executed on July 31, 2012 with Kinross Gold Corporation and Selkirk Metals Corp., a wholly owned subsidiary of Imperial Metals Corporation on their Currie-Bowman Property, located 54 kilometres east of Timmins Ontario.
In November 2012, the company contacted Kinross indicating it was concerned it would not be able to complete the required assessment work on the property in time to maintain the claims in active status due to the weakness in the financing markets. As a result, a mutual decision between Kinross, Selkirk and the company to terminate the agreement was taken. The agreement terminated and is of no further legal force or effect except for those obligations in the agreement that are specifically identified and deemed to survive termination of the agreement and the parties are released and discharged from all obligations and liabilities under the agreement.
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