CITATION RESOURCES INC. ("CTT")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: December 16, 2011
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a Letter of Intent dated November 15, 2011 between Citation Resources Inc. (the "Company") and Esperanza Resources Corp. ("Esperanza"), whereby the Company has an option to acquire Esperanza's 100% interest in the Biricu prospect mineral exploration concession (the "Biricu Prospect") located in Morelos State, Mexico. In consideration, the Company will pay Esperanza cash in the amount of $20,000 in the first year, issue a total of 1,050,000 shares (250,000 shares in the first year) and incur exploration expenditures in the amount of $4,000,000 ($250,000 in the first year) over a four-year period. There will be finder's fee payable to Graham's Geological Data Ltd. (Richard Graham) in the amount of 250,000 shares of the Company.
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