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AMERICAN URANIUM LTD — Capital/Financing Update 2009
Oct 6, 2009
64381_rns_2009-10-06_98e3f144-e1f3-433e-9b47-5585c0070f4d.pdf
Capital/Financing Update
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7 October 2009
Agreement to Acquire Interest in Gascoyne and Ashburton Projects
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7 October 2009
Company Announcements Office Australian Securities Exchange Limited Electronic Lodgement System
Dear Sir / Madam
GASCOYNE AND ASHBURTON PROJECTS
Artemis Resources Limited (“ARV”) advises that it has reached agreement with GTI Resources Ltd (“GTI”) for ARV to acquire a majority interest in the Cambridge Creek, Yangibana and Bali Hi Projects.
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Figure 1: Project locations
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On acquisition of the interest in the above projects, Artemis will enter into a Joint Venture with GTI whereby GTI’s remaining interest in the above projects will be free carried to the commencement of a bankable feasibility study.
Key terms of the agreement include:
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Subject to satisfactory due diligence to be completed by Artemis within 30 days;
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• Payment of $150,000 (including $50,000 which will be paid as a deposit) plus 3,000,000 Artemis shares; and
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In the first year following completion, Artemis will spend on exploration $75,000 on Cambridge Creek, $100,000 on Yangibana and $30,000 on Bali Hi.
Sevag Chalabian Non Executive Chairman
Phone: +612 9299 8820 Web Site: www.artemisresources.com.au
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Telephone: +61 2 9299 8820 Facsimile: +61 2 9262 2885 Email: [email protected] Level 10, 1 Margaret Street, Sydney, NSW, 2000, AUSTRALIA Postal Address: PO Box R933, Royal Exchange, NSW, 1225
ABN: 80 107 051 749