TSX-V-listed African Metals Corporation (AMC) has entered into an agreement to acquire a majority interest in the Silver Bell – St Lawrence gold project, in the Virginia City mining district, in Montana, in the US, from Frederick Private Equity Corporation.
AMC may initially earn a 51% interest in the project by making yearly $10 000 option payments and spending $1-million on exploration within four years, with a minimum exploration expenditure of $200 000 to be spent in the first year.