MINAURUM GOLD INC. ("MGG")
BULLETIN TYPE: Property-Asset or Share Purchase Amending Agreement
BULLETIN DATE: April 21, 2014
TSX Venture Tier 2 Company
Further to Exchange bulletin dated October 28, 2010, the TSX Venture Exchange has accepted for filing amendments to a Property Option Letter Agreement dated October 7, 2010 between Minaurum Gold Inc. (the 'Company') and Minera Zalamera S.A. de C.V. (David Jones) whereby the Company will acquire a 100% interest in the Santa Marta Project located in Oaxaca State, Mexico.
The agreement has been amended to delay and increase cash payments due and increase the number of shares payable.
Total consideration will now be $175,000 cash, 1,875,000 shares and $2,500,000 in work expenditures.
CASH SHARES WORK EXPENDITURES
Exchange Approval (paid) $20,000 0 $0
Within 60 days from approval (paid) $0 250,000 $0
One year from approval (paid) $30,000 250,000 $25,000
Two years from approval (paid) $50,000 250,000 $475,000
Three years from approval (paid) $0 325,000 $0
Before March 31, 2014 $15,000 0 $500,000
Before October 28, 2014 $60,000 800,000 $500,000
Five years from approval $0 0 $1,000,000
Totals: $175,000 1,875,000 $2,500,000
In addition to the above, upon commercial production, the Company must deliver the lesser of 1,000,000 shares with a deemed price as of the date of issuance or $5,000,000 cash.
The NSR remains the same: There is a 3% net smelter return relating to the acquisition. The Company may at any time purchase up to 2% of the net smelter return for $1,000,000 per one-half percent in order to reduce the total net smelter return to 1%.
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