Feb 23 2011
Aurum, Inc (AURM:OTCBB) has announced that its 100% subsidiary Aurum Resources Pty Ltd has entered into an Agreement with the shareholders of the Lao Inter Mining Options Ltd which will result in Aurum acquiring an option to purchase LIMO's 20% interest in Argonaut Resources Ltd which is the beneficial owner of the 223 square kilometer Century Thrust Tenement for $1,350,000.
This Agreement in conjunction with the agreement with the Argonaut group of companies (see press release of 25 January 2011) enables Aurum to acquire at its option 71% of the Century Tenement.
Aurum's ability to acquire a 71% interest in the Century Tenement is an important development for Aurum providing the Company with a high quality initial project which has great potential for becoming a gold producing asset. The Agreement also gives Aurum a solid operational foothold in the country, which is a critical first step in realizing the Company's long term growth plans to become a significant explorer and miner in Laos.
Source: Aurum, Inc.