Mph Ventures Acquires Yukon Property Adjacent to Underworlds White Gold Project
MPH Ventures Corp. announce it has entered into an agreement to acquire a 100 % interest in the Quartz Claims property. This property consists of 22 unit blocks located in the Yukon Territories adjacent and to the north-east of Underworld Resources Inc’s White Gold property. The total land package is approximately 950 hectares. Underworld has been exploring sediment and vein-hosted gold targets and they have recently announced a discovery hole of 103 metres of 3.4 grams per tonne gold. The land to the east, west, and south of the Quartz Claims Property has now been completely staked and a staking rush appears to be underway. The Company is planning to mobilize a field crew to perform detailed mapping and sampling in the next few weeks.
MPH Ventures will pay the Vender $75,000 cash and 800,000 shares of MPH plus a 3% NSR with an option to buy back 1% for $1 million. The Company also agrees to spend $250,000 over the next 12 months as a work commitment.
The Company will pay a finder’s fee of 75,000 common shares in connection with the property acquisition.
