Kat Exploration Inc. Signs Letter of Intent to Purchase 100% of the "Twi-Lite" High Grade Gold Property
December 09 2009 - 09:01AM
Business Wire
Kat Exploration Inc. (Pink Sheets:KATX) and “Steve Courtney” are
pleased to announce the signing of a Letter of Intent ("LOI") with
respect to the purchase of the “Twi-Lite” gold property.
The LOI confirms Kat’s intention to acquire 100% of the
“Twi-Lite” Property in consideration for CAD$144,000 and no common
shares, over a period of 3 years. Courtney will retain a 2% NSR on
the “Twi-Lite” property with Kat’s option to buy back 1% of that
NSR.
A formal agreement will be entered into between Kat Exploration
and Steve Courtney within the next week or so as due diligence have
been completed with an agreement to proceed with the official
option documents.
Kat Exploration’s continuing vision is to realize shareholder
value and wealth through monetization of its projects and potential
discoveries through partnerships with significant players with
ready capital and production expertise.
The gold price trend is, and has been, steadily moving upwards.
The average price of gold has defined the long term trend and
markets remain bullish.
It is Kat Exploration’s goal to be better positioned to generate
greater shareholder value by focusing on adding to its portfolio/
acquisitions of gold properties. Although Kat’s primary exploration
focus will be the identification of gold deposits, its exploration
horizon will also encompass base metals as well.
About Kat Exploration Inc
Kat Exploration’s principal objective is to locate, stake, prove
up and sell mineral properties to major mining companies. It is the
Company’s objective to take advantage of increased activity to
generate numerous joint venture clients, and sales of our existing
and yet to be acquired properties.
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