Mar 2 2011
Habanero Resources Inc. (TSX VENTURE:HAO) (PINK SHEETS:HBNRF) (FRANKFURT:HRJ) has announced that it has entered into a option agreement with an arm's length vendor to acquire approximately 21,400 acres in Quebec.
This property is contiguous to property already held by Habanero (the Lezai Gold Prospect, announced October 1, 2010). This would now bring Habanero's contiguous acreage to approximately 46,800 acres bordering Beaufield Resources Inc.'s (BFD—TSX.V) Tortigny Prospect, approximately 125 kilometres northwest of Chibougamou, Quebec. Management is anticipating a work program to commence on this prospect in the coming months. Terms of the option are $15,000 in cash and 3 million common shares upon regulatory approval and an additional 3 million common shares within 15 months of closing the transaction. Work commitments on this prospect will consist of $100,000 in the first year and an additional $250,000 in the second year. A finders' fee may be payable on this transaction. All terms are subject to TSX Venture Exchange approval.
Habanero will also be attending the PDAC on March 6th and 7th in booth number 2612. Management welcomes everyone to come speak to company representatives.
Jason Gigliotti, President states, "Management anticipates an active second quarter of 2011 for Habanero's work programs. We hope to have multiple programs in the Yukon and Quebec underway, and when you take this into account with near historic highs on silver and gold prices, clearly this is positive time of potential corporate growth for Habanero."
Source: Habanero Resources Inc.