Altan Rio secures Mongolian gold tenement
25th Jul 2012
JULY 25 – Altan Rio Minerals has completed the earn-in for 90% ownership in one of three Onon epithermal gold tenements.
The company owns 100% of the other two tenements in northeastern Mongolia.
Altan secured the earn in with a final payment of 240,000 shares to private Mongolian company Erdenyn Erel.
The shares are subject to a four-month escrow, expiring on November 13, 2012.
Other requirements met under the earn in agreement include exploration expenditure of $US900,000 and cash payments totalling $US100,000.
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