03:48 PM EST - Network Exploration Ltd. : announced that it has acquired mineral claims representing over 1,000 hectares of explorable land in the Yukon Territory, Canada. The company noted that the claims lie east of Underworld Resources Inc.'s Golden Saddle zone on its White gold property. The company has agreed to pay $75,000 cash and to issue two million company shares. The vendor will retain a three-per-cent net smelter return of which one per cent will be purchasable by the company for $1 million. The company stated that its work commitment on the acquired land is $25,000 by June 1, 2010 and an additional $225,000 by Sept. 1, 2010. Network Exploration Ltd.
shares V.NET are trading up $0.005 at $0.06.
