Terms of the Agreement include an immediate payment to EMX of 60,000 common shares of Centrasia for an option (the ‘Option’) to acquire all rights and title to the Turgeldy exploration license (the ‘Property)’, with EMX retaining a 1% Net Smelter Return royalty. Centrasia has up to six months from the date of signing to exercise the Option by making a cash payment of $30,000 USD and issuing an additional 90,000 common shares of Centrasia to EMX. If Centrasia exercises the Option, but later decides to abandon the Property, EMX retains the right to have the Property title transferred back at its own expense, and with no further obligation to Centrasia. The Agreement is pending final approval from the TSX Venture Exchange.
EMX’s 3,200 square kilometer Kyrgyz property portfolio consists of gold, copper, and uranium exploration licenses and the Kuru Tegerek exploitation license. EMX continues to pursue its prospect generation model in the Kyrgyz Republic’s Tien Shan mineral belt, and looks forward to executing on additional business opportunities such as the Agreement with Centrasia.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Kim C. Casswell
Phone: (604) 688-6390
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.