Mantis takes hold of a high grade gold project

It has been announced by Mantis Mineral Corp (as part of a notable achievement) that it has attained the ownership of 100% interest in its Cree Lake Gold Property and this has been accomplished by means of fulfilling the terms of its option agreement (’the agreement’).

What were the terms of agreement? The terms of the agreement happened to be 240,000 Mantis shares over a 3-year term, in conjunction with $100,000 in exploration expenditures by the expiration of the agreement June 6, 2010. The Vendors retain a 1 1/2% NSR (net smelter royalty). It ought to be remembered that Mantis Mineral Corp. is a Canadian based resource and exploration company traded publicly under the symbol MYN on the CNSX. The company is focused on the creation of shareholder value by way of the exploration and development of its suite of strategically located, high-impact Canadian exploration projects.

It has been learnt, thanks to this, Mantis Mineral Corp. from now can concentrate on its exploration strategy. What’s more through this it will be able to target both Flint Rock occurrence and the high gold potential area south of Cree Lake contained within the contact zone of a felsic intrusive. Is the company serious of these prospects? Definitely! It should be noted that Mantis is having deliberations of a spring summer program that includes prospecting, mapping, sampling and trenching with late summer drilling, followed by a winter drill program.

Speaking on this Robin Ross, CEO, stated, “We are very pleased that Mantis has been able to meets its option conditions so quickly and so early in its evaluation of the Cree Lake Gold Property. Mantis now has 100% ownership of this very exciting high grade gold property. This is very exciting, as we now have a high grade gold project with a consolidated land package of highly favorable and diverse gold environments, which have demonstrated at an early stage of exploration significant large scale potential”.