Anconia Resources Corp.
TSX VENTURE : ARA

Anconia Resources Corp.

September 02, 2011 10:29 ET

Anconia Announces Land Claim Option Agreement

TORONTO, ONTARIO--(Marketwire - Sept. 2, 2011) - Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is pleased to announce that it has entered into an option agreement (the "Agreement") to acquire up to a 100% interest in 23 mining claims (comprising 354 claim units) (the "Property") in the Sault Ste. Marie mining district of Ontario.

Under the terms of the Agreement, Anconia can acquire:

  1. a 50% interest upon payment of $50,000 and the issuance of 140,000 shares of Anconia;

  2. an additional 25% interest upon payment of $110,000 (payable in cash or Anconia shares at Anconia's option) by the first anniversary of the date of the Agreement;

  3. the final 25% interest upon payment of $110,000 (payable in cash or Anconia shares at Anconia's option) by the second anniversary of the date of the Agreement;

The optionors shall retain a 1.5% net smelter return royalty, however Anconia has the right to purchase the NSR royalty in certain circumstances.

The Agreement is subject to approval of the TSX Venture Exchange.

About Anconia

Anconia is a base and precious metals exploration and development company, which is focused on providing shareholder value through the advancement of its property holdings in Canada including the Zac and Marce projects in Nunavut Territory. Anconia is undertaking a comprehensive exploration program to determine the potential of the projects currently in its portfolio.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Anconia Resources Corp.
    Jason Brewster
    President and CEO
    416-815-9777