NEWS


 bullet  News Releases
 bullet  Industry News
 bullet  Analyst Coverage

INDUSTRY NEWS

March 10, 2006

Cooper Minerals property agreement for Kauhee

The TSX Venture Exchange has accepted for filing an option and earn-in agreement dated Feb. 14, 2006, between Cooper Minerals Inc. and Agricola Resources PLC whereby Cooper has been granted an option to acquire reservation claims Kauhee 1-10 located in the Joensuu magistrate in eastern Finland. Consideration is:

  1. incur a total of $500,000 of work expenditures on the property in two stages of which a minimum of $50,000 must be expended on or before the ending of six months upon signing of the option agreement and the balance on or before the ending of two years upon signing of the option agreement;
     
  2. the subscription of 1.65 million ordinary shares of 0.01 pound each in the capital of Agricola at a subscription price of 0.03 pound per ordinary share, and simultaneously with the allotment of such shares, Agricola shall issue to the company share purchase warrants to subscribe for 1.65 million additional ordinary shares at a price of 0.03 pound per share for a period of one year from the date of issue; and
     
  3. contribute in equal shares with Agricola to the costs of converting such of the property as the companies shall agree to full exploration licences in May, 2006 (such costs estimated to be 100,000 euros).

A finder's fee of 38,367 common shares of the company is payable to William Gennen McDowall in the first year upon the completion of the first year condition precedents and 86,538 common shares upon the completion of the second year condition precedents.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Go back to the previous page

© Copyright Cooper Minerals Inc. All Rights Reserved.
For more information, please contact us.