Waterloo Resources & Eagle Plains Resources update

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Tue, Nov 17, 2009
Rare Earth Company News
Post by Anne B, Rare Earth Researcher

Waterloo Resources Ltd. (TSX VENTURE:WAT) and Eagle Plains Resources (TSX VENTURE:EPL) announced that they have completed a $225,000 exploration program on the Ice River property. This site is located 30 kilometers southeast of Golden, British Columbia.

The press release is quoted as saying:

Waterloo may earn a 60% interest in the property by making exploration expenditures of $3,000,000 and completing payments of 750,000 shares (on a post sub-divided basis – see also the Waterloo news release dated September 11, 2008) and $510,000 cash over a five year period. A 1% NSR is reserved for Eagle Plains. Waterloo may increase its interest in the property to 75% by delivering a bankable feasibility study by 2016.

Click here to access the entire press release

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