SKEENA RESOURCES LIMITED ("SKE")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: September 1, 2010
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation of a Purchase Agreement dated April 22, 2010 between the Company and Virginia Energy Resources Inc., Almaden Minerals Ltd. and Minera Cascabel SA de CV (the "Vendors") whereby the Company has purchased the remaining underlying vendor interests as described in the Skeena - Virginia Energy - Almaden Joint Venture Option Agreement (previously announced on February 19, 2008 and accepted by the Exchange on March 19, 2008) and the Minera Cascabel purchase to obtain a 100% vested interest in and to all of the Tropico mineral concessions located in the Municipality of Mazatlan, Sinaloa State, Mexico.
The consideration payable to the Vendors consists of 8,000,000 common shares and 4,000,000 share purchase warrants (exercisable for a period of five years at an exercise price of $0.20 per share in the first two years and at $0.50 per share thereafter).
A 2% Net Smelter Return is payable to Virginia and Almaden one half of which may be purchased by the Company at market value (upon presentation of an evaluation) and 2% NSR payable to Minera Cascabel.
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Virginia Energy Resources Inc. Y 3,840,000
1,920,000 warrants
For further information, please refer to the Company's news release dated April 29, 2010.
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