Monster Mining Corp. (MMNGF: OTC Link) | Monster Mining Enters into Option Agreement on its Keno-Lightning, Yukon Property

November 7, 2011

Trading Symbols:  MAN:  TSXV

MMNGF:  OTCQX

 

Monster Mining Enters into Option Agreement on its Keno-Lightning, Yukon Property


Vancouver, British Columbia
… Monster Mining Corp. (the “Company” or “Monster Mining”) is pleased to announce that it has entered into an option agreement with Midnight Sun Mining Corp. (TSX‑V: MMA) (“Midnight Sun”) granting Midnight Sun the option to acquire a 20% interest in Monster’s Keno-Lightning silver property in central Yukon (the “Keno-Lightning Property”). In order to exercise the option, Midnight Sun must incur a total of $7,500,000 of exploration expenditures on the Keno-Lightning Property over the next two years, as follows:

(i)         the sum of $200,000 no later than December 31, 2011 (the “Anniversary Date”);

(ii)        an additional $1,000,000 on or before 30 days following the Anniversary Date or January 31, 2012; and

(iii)       an additional $1,575,000 on or before each six month period following the Anniversary Date, and no later than December 31, 2013.

If Midnight Sun does not incur the aggregate exploration expenditures of $7,500,000, it will have earned no interest in the Keno-Lightning Property. 

ON BEHALF OF THE BOARD

Signed “Robert Eadie”                                                   

Robert Eadie,
President, Chief Executive Officer and Director

 

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Website:  www.monstermining.com

Contact: Robert Eadie

 

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Article source: http://www.otcmarkets.com/stock/MMNGF/news?id=37559

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