Yale Finalizes Option for the Los Amoles Property, Sonora State
Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to report
that it has signed a formal Agreement with Natures Call Brands Inc. for
the option to earn a 70% interest in Yale′s wholly owned Los Amoles
Property located in Sonora State, Mexico. Yale has received a total of
US$50,000 and 200,000 shares in Natures Call.
To earn a 70 % interest in the Los Amoles property Nature′s Call will be
required to spend US$ 900,000 on exploration expenditures and issue a
total of 1,000,000 shares to Yale over three years. The exploration
expenditures required in the first year is $200,000 with $100,000 being
a firm commitment having to be spent within the first six months.
Yale will be operator for at least the first year of the earn-in period
and anticipates a work program to commence at Los Amoles early in 2011.
About Yale Resources:
Yale Resources is an exploration and development company concentrating
in northwestern Mexico. Utilizing the joint venture business model, Yale
is able to maximize its exposure to discovery while minimizing
exploration risk. At the same time Yale continues to work on its
non-optioned properties as well as reviewing new projects. Yale has four
projects under option to value added partners with commitments for
approximately $1.5M in expenditures during the next 12 months.
On behalf of the Boards,
'Ian Foreman? |
Ian Foreman, P.Geo. |
President |
For additional information on Yale Resources please call the Company at
604-678-2531.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical
information, including statements relating to the Company′s future plans
and objectives or expected results, may include forward-looking
statements. Forward-looking statements are based on numerous assumptions
and are subject to all of the risks and uncertainties inherent in
resource exploration and development. As a result, actual results may
vary materially from those described in the forward-looking statements.
Yale Resources Ltd.
604-678-2531