03:46 PM EST - TNR Gold Corp. : announced that it has signed a letter agreement to acquire a 100-per-cent interest in the Mud Lake property, located 16 kilometres southwest of Tonopah in the Ralston Valley, Nevada. TNR has agreed to make payments totaling $260,000 U.S. over a four-year period, issue one million common shares of TNR over a three-year period and commit to work expenditures totaling $1 million U.S. over a four-year period. TNR has agreed to pay a Royalty of three per cent to the vendor and has the right to purchase the royalty for $3 million U.S. at anytime. TNR also has the option to reduce the Royalty by paying the vendor $1 million U.S. for each one per cent (1/3) at anytime. TNR Gold Corp.
shares V.TNR are trading up $0.01 at $0.20.
