The HY/Jay project located in Upper Hyland River area of eastern Yukon in a belt that hosts several high-grade gold vein occurrences, including the 3Ace property currently being explored by Golden Predator Mining Corp. The HY claim group was acquired from Freeport McMoRan Exploration (" Freeport") in 2011 with the addition of the Jay claims by staking in 2011. Work to date has outlined three areas of anomalous gold in rock and soil, being the West and East zones and the Zig Zag zone. Selective grab samples have returned elevated gold values and include two samples with visible native gold.
Bearing entered into property purchase agreement with Golden Predator Mining Corp. whereby Golden Predator will make an aggregate cash payment of $275,000 over 48months. In addition, Golden Predator will issue 85,000 common shares over the first 8 months and up to $600,000 worth of common shares on dates that are 20 months, 32 months, and 48 months. Bearing will retain a 2% net smelter return royalty on certain claims and a 1% net smelter returns royalty on the remaining claims, of which 50% of the NSR can be repurchased for $1,000,000 at any time.
Maricunga Lithium Fish Lake Valley HY / Jay