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Tuesday, 23rd December 2008 (1242 views)

Pacific North West Capital has been granted an option by St Andrew Goldfields to purchase the outstanding shares of Mystery Creek Resources.

Under the terms of the deal, Pacific North West will acquire the Nixon Fork gold mine in central Alaska, its first advanced stage gold purchase.

The two companies have signed a letter agreement over the option, which is exercisable until February 15th 2099 and enables Pacific North West to purchase a 100 per cent interest in Mystery Creek Resources, a wholly-owned Alaskan subsidiary of St Andrews Goldfields.

Mystery Creek Resources' assets include the Nixon Fork gold mine, located 56km north-east of McGrath, Alaska and Pacific North West has paid $100,000 (£67,560) on signing the agreement, with a further $400,000 due if its chooses to exercise the option.

Based in Vancouver, British Columbia, Pacific North West Capital is a mineral exploration company focused on North America that is currently expanding its portfolio of assets through the acquisition of under-funded advanced stage projects.

 

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