MIDLANDS MINERALS CORPORATION ("MEX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 21, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to an Option Agreement (the 'Agreement') dated April 3, 2014 between Reservoir Minerals Inc. (TSXV: RMC) (the 'Optionor') and Midlands Minerals Corporation (the 'Company'). Pursuant to the Agreement, the Company shall acquire the right to earn up to a 75% interest in the Parlozi Lead-Zinc-Silver Project located in Serbia.
The Company can earn an initial 51% interest with a minimum spend commitment of $500,000 to be spent by September 30, 2014 plus incur an aggregate of $4,500,000 in exploration expenditures over a four year period (the 'First Phase'). An additional 14% interest may be earned by the Company after a two year period following the First Phase by obtaining a mining exploitation permit from the Serbian government (the 'Second Phase'). A further 10% interest may be earned by the Company over a two year period following the Second Phase by completing a bankable feasibility study.
For more information please refer to the Company's news releases dated January 10, 2014 and April 7, 2014.
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