Health & Fitness
Health and Fitness
Health and Fitness
Tue, July 6, 2010
Mon, July 5, 2010
Fri, July 2, 2010 Harte Signs Option Agreement to Acquire Mining Claims
TORONTO, ONTARIO--(Marketwire - July 2, 2010) - HARTE GOLD CORP. ("Harte") (TSX VENTURE:HRT)(FRANKFURT:H4O) announces that it has entered into an Option Agreement to acquire three mining claims representing twenty-five mining claim units (the "Claims") located within Harte's Sugar Zone Property from Lloyd Halverson, Eugene Belisle and John E. Ternowesky. The acquisition of the Claims consolidates Harte's holdings at the Sugar Zone Property.
To earn a 100% interest in the Claims, Harte must make cash payments of $225,000 and incur work commitments of $300,000 over five years and issue 200,000 common shares over three years, subject to a 3% NSR which NSR can be reduced to 1.5% on payment of $1.5 million. In addition to the above and after the five year Option period, if an economically viable deposit is found on the Claims as defined by an independent feasibility study, Harte will make annual payments of $20,000 against future NSR payments. In the event an economically viable deposit is not found, Harte may make annual payments of $20,000 for a period of five years to complete its purchase of the Claims.
The Option Agreement is subject to TSX Venture Exchange approval. Securities issued pursuant to the Agreement will be subject to applicable hold periods.
About Harte Gold Corp.
Harte Gold Corp. is a Canadian gold exploration company with interests in the Sugar Zone and Stoughton-Abitibi properties located in Ontario, Canada. The Sugar Zone Property is located 60 kilometres east of the Hemlo Gold Camp in White River, Ontario, and holds an NI 43-101 compliant inferred resource of 904,400 tonnes grading 9.75 g/t Au for 284,000 ounces of contained gold. Harte is the operator of the Sugar Zone Property and currently owns a 49% interest with the option to acquire the remaining 51%.
The Stoughton-Abitibi property is located on and adjacent to the Destor-Porcupine Fault Zone in close proximity to the 2.5 million ounce Holloway-Holt Gold Mine in the Timmins Porcupine gold camp.
Common Shares outstanding: 128,224,169
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.
