Parlane Resource Completes Acquisition of 100% Interest in Big Bear Project in Central British Columbia
![Parlane Resource Completes Acquisition of 100% Interest in Big Bear Project in Central British Columbia](https://www.minenportal.de/media/goldseiten-news.jpg)
Big Bear is located in central B.C., southwest of Prince George, between two mineralized systems: New Gold Inc.'s Blackwater and the Capoose properties. Parlane completed the acquisition which called for cash payments of $600,000 and the issuance of an aggregate of 1,200,000 common shares and 1,200,000 warrants to the vendor of the property, and $650,000 of exploration expenditures incurred over a two-year period.
Earlier in November, the Company commenced a drilling program on five target areas and expects to complete the planned 1,500 metres of core drilling by the end of December. Drill results will be announced thereafter.
The Company also announces that an aggregate of 212,000 incentive stock options have been granted to directors, officers & consultants at an exercise price of $0.18 per share. The options are exercisable for a period of five years, ending on December 3, 2017, and are subject to the requirements of the Exchange and the Company's Stock Option Plan.
ON BEHALF OF THE BOARD
Robert Eadie
President, Chief Executive Officer and Director
Neither the 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.
Contact
Parlane Resource Corp.
Robert Eadie, President, Chief Executive Officer and Director
1-604-602-4935
1-604-602-4936 (FAX)
www.parlaneresource.com