Golden Harp Options Block A Of Copper Hill Property To Benton Resources: 60% + 10% Interest

Golden Harp Resources, Inc. has granted an option on Block A of its 100%-owned Copper Hill property, comprising 351 claims out of the 855 in the property, to Benton Resources Corp. In order to earn a 60% interest in the Block, Benton has to pay $75,000 cash plus 550,000 shares to Golden Harp and spend $2 million on the property. The exploration work has to be done on this schedule: $500,000 within 12 months; and, $750,000 within 24 months; and, $750,000 within 36 months. The cash and share payments are to be made in three installments: the first made within 5 days of exchange approval, and the others one and two years after that date. An extra 10% can be earned by an additional $50,000 cash payment and $1 million in exploration work, but Benton must agree to do so within 60 days after earning the 60%. The news release has more details, and goes into the Block A findings so far. All drill results specified therein are historical.

This item was disseminated right after the market opened yesterday. Golden Harp later closed at 14 cents, unchanged on the day; Benton closed at 18.5 cents, dropping 0.5 cents.

Golden Harp's Google Finance web page is here; Benton's is here.

----------

NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.