Mon Aug 26, 2002 Consolidated Abaddon amends Option Agreement with Mr. Perry English
Further to the Company News Release of August 20, 2002, the Board of Directors of the Company are pleased to announce that they have amended the Option Agreement (the "Option Agreement") with Mr. Perry English (the "Optionor"), to earn up to a 100% interest in and to 4 claim blocks consisting of 62 units (approximately 2480 acres), instead of 2 claim blocks as announced. The Property is identified as the Sobeski Lake Property, located in the Black Bear area, Red Lake Mining Division, Province of Ontario.
In order to exercise the option, the Company must issue 100,000 shares and pay the sum of $76,000 to the Optionor over a four-year period. The claims are subject to a 2% net smelter return royalty in favour of the Optionor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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