Melkior Resources Inc. (“Melkior”) is pleased to announce that it has entered into an agreement (the “Agreement”) with Beaufield Resources Corp. (TSX-V: BFD) (“Beaufield”), whereby Beaufield will purchase Melkior’s 50% interest in the Launay property (the “Property”), thereby becoming a 100% owner of the Property. The Property is located in the Launay Township, in the Abitibi Greenstone Belt, Quebec.
Under the terms of the agreement, Beaufield will pay $125,000 in cash and issue 2,500,000 common shares to Melkior upon acceptance of the transaction by the TSX Venture Exchange. Melkior will retain a 1.5% net smelter returns royalty on the Property, one-half of which may be purchased by Beaufield for $750,000.
ON BEHALF OF THE BOARD
Keith James Deluce, CEO
For more information, please contact:
Melkior Resources Inc.
E-mail: [email protected]
Tel: 705-267-4000