Silver Shield Resources Extends Option on James Township Morris Property by 1 Yearadmin
Silver Shield Resources Corp. announced that the Company has extended the term of its Option on the James Township Morris Property in cooperation with the vendor. As a result, the $10,000 cash payment and $200,000 work commitment to November 19th have been extended by one year to November 19, 2009. The SSR share option of 130,000 common shares due to the vendor will be granted immediately upon receipt of the necessary approvals.
Silver Shield’s corporate strategy has always been to acquire quality silver projects that are in advanced stages beyond grassroots exploration, with the potential to be developed into producing properties. The Morris Property is a high quality asset that Management is happy to maintain its option on and even more gratified to have arranged the extension as a win-win for both parties during undeniably difficult financial conditions.
As reported previously the Company has completed stripping at its Welsh Property in Elk Lake and is defining specific targets for drilling.