JIULIAN RESOURCES INC. ("JLR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: November 2, 2011
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an Option Agreement dated October 14, 2011 between Jiulian Resources Inc (the "Company") and Xstrata Copper Canada a business unit of Xstrata Canada Corporation ("Xstrata Copper") pursuant to which the Company has agreed to sell up to 75% of its interest in the Big Kidd Property, British Columbia (the "Property"). As consideration, to earn a 51% interest in the Property, Xstrata Copper will pay the Company $180,000 and spend $3,000,000 in Exploration Work Expenditures over a 4 year period as follows:
CASH SHARES WORK EXPENDITURES
Within 45 days of Exchange approval $25,000 0 $0
Year 1 $25,000 0 $400,000
Year 2 $30,000 0 $400,000
Year 3 $40,000 0 $800,000
Year 4 $60,000 0 $1,400,000
Upon vesting a 51% interest in the Property, Xstrata Copper, a joint venture will form and Xstrata Copper will maintain the right to earn a further 24% interest in the property by funding the completion of a feasibility study or incurring $15 million in expenditures towards the completion of a prefeasibility and a feasibility study on the Property.
Insider / Pro Group Participation: Xstrata Copper is arms length to the Company.
For further information about the transaction please read the Company's news release dated October 18, 2011 available on SEDAR.
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