Stellar Sell its Uranium Properties in the Otish Bassinadmin
Stellar Pacific Ventures announce that it has completed all formalities and received all approvals to signed an agreement with Otish Energy Inc in witch Otish Energy has the option to purchase 100% interest in Stellar’s properties SB1, SB2 and SB3 located in the Otish Mountains uranium district.
The Otish SB1, SB2 and SB3 properties consist of 82 claims, covering approximately 43 square kilometers.
Under the agreement, to earn a 100 % interest in the properties, Otish Energy must over three years: (1) Pay Stellar the sum of $70,000 ($10,000 upon approval of the TSX-Venture), (2) Issue to Stellar 700,000 shares of Otish Energy (200,000 upon approval of the TSX-Venture), (3) incur $675,000 in exploration expenditures over two years ($200,000 the first year).
Stellar Pacific Ventures Inc. is a junior mining exploration company listed on the TSX Venture Exchange under the Symbol SPX. The company’s objectives are the development and production of gold and base metal assets.