Full Metal Sells 100% Interest in Kamishak Property
January 30 2008 - 5:44PM
Marketwired
VANCOUVER, BRITISH COLUMBIA intends to divest its option to
acquire a 100% interest in the Kamishak property in Alaska to Alix
Resources Corp. (Alix) (TSX VENTURE: AIX) for a total of 750,000
Alix shares.
As consideration for the transfer, Alix has agreed to: (a) issue
to Full Metal 500,000 common shares on the day of receipt of the
TSX Venture Exchange's written approval of the transaction (b)
issue to Full Metal 100,000 Alix Shares on or before October 31,
2008 and (c) issue to Full Metal 150,000 Alix Shares on or before
October 31, 2010 (d) pay to Full Metal a 2.0% net smelter return
royalty on all future production from the Kamishak property. Alix
can purchase one-half of the royalty (i.e., a 1.0% royalty) 1.0%
for $1,000,000.
Full Metal is a generative exploration company with 12 active
projects in Alaska and one in the Yukon Territory. The 2008 drill
programs include the 40 Mile Project, Lucky Shot Property, Mt.
Andrew Property, Moore Creek Property, CJ Property, Pebble South
Project, Chignik Project, Boulder Creek Property and OG Properties.
The Company has Joint Venture Agreements with Freeport McMoRan,
BHP, Metallica Resources, Triex Minerals, Altair Ventures, Highbury
Projects and Millrock Resources.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Full Metal Minerals Ltd. Jeff Sundar Manager, Investor
Relations (604) 484-7855 (604) 484-7155 (FAX) Email:
info@fullmetalminerals.com Website: www.fullmetalminerals.com
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