03:56 PM EST - Silver Shield Resources : announced that it has signed a Letter of Intent, to acquire a property located in what continues to be Canada's hottest Gold exploration play, the West Timmins Area. The company said that the property consists of 36 unpatented mining claim units in south central Denton Township. These claims cover an area of 575 hectares, located about five kilometres south of the highly prospective Porcupine-Destor Fault Zone, which is an important feature to most of the largest past producers in The Timmins Camp. The company said it will pay a total of $50,000 and 750,000 common shares, over a two-year period for an option to acquire a 100% interest in the property, subject to regulatory approval. The vendors will retain a royalty of 2% of NSR that Silver Shield has the right to purchase 1% of at any time, for $1,000,000. The company said it continues to review other properties in the West Timmins Area, and expects to complete additional acquisitions in the near future. Silver Shield Resources
shares V.SSR are trading up $0.005 at $0.01.
