Sultan Minerals Inc. and Margaux Resources Amend Option Agreement Regarding the Purchase of the Jersey Emerald Property
11.03.2015 | The Newswire
Vancouver, March 11, 2015 - Sultan Minerals Inc. (TSX-V: SUL; "the Company, "Sultan") reports that the Company has reached an agreement ("the Amending Agreement") with Margaux Resources Ltd. (TSX-V: MRL; "Margaux") to amend the Option Agreement dated November 8, 2013 between Sultan and Margaux granting Margaux an option to purchase 100% of the Jersey Emerald Property for payments totaling $4 million according to terms set therein. Pursuant to the Amending Agreement, the Option Payment of $350,000 due March 15, 2015 which represents the second installment of the original Option Payment of $750,000 due November 8, 2014 has been extended to July 31, 2015. The first installment of $400,000 was received on schedule on November 8, 2014. All other terms of the Option Agreement remain unchanged.
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact: Marc Lee, Investor and Corporate Communications Tel: (604) 628-0519 Fax: (604) 628-0446 Email: mlee@sultanminerals.com or info@sultanminerals.com
This release was prepared by Sultan's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Sultan expects are forward-looking statements. Although Sultan believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Sultan, investors should review Sultan's filings that are available at www.sedar.com or Sultan's website at www.sultanminerals.com.
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