Deals this week: Wealth Minerals, Stratabound Minerals, Timmins Gold

28 May 2015 (Last Updated May 28th, 2015 18:30)

Wealth Minerals has signed an agreement with Coronet Metals to purchase Coronet Metals Peru.

Wealth Minerals has signed an agreement with Coronet Metals to purchase Coronet Metals Peru.

Under the agreement, Wealth Minerals will acquire Coronet Peru's Yanamina Gold Property, which is in its advanced stage and comprises five mining concessions in the Department of Ancash, Peru.

The company will also assume responsibility for Coronet Peru's outstanding debt in an amount of no more than $81,000.

Stratabound Minerals has signed a non-binding letter of intent (LOI) with Silver Stream Mining, which the latter and its shareholders will complete a business combination with the former.

Upon completion of the transaction, Stratabound will continue to carry on the business of exploration and development of mining projects.

The company will also continue with the name 'Stratabound Minerals Corp'.

Timmins Gold and Newstrike Capital have completed the previously announced plan of arrangement.

Under the agreement, Timmins Gold has acquired ownership of all of the issued and outstanding common shares of Newstrike.

Following the transaction, Newstrike became a wholly-owned subsidiary of Timmins Gold.

Lakeland Resources has acquired additional mineral claims that are situated along the Patterson Lake and Carter corridors within the southwest part of the Athabasca Basin, Saskatchewan in Canada.

Said to be contiguous with Lakeland's Carter Lake Property, the additional claims bring the total project size to about 10,052ha.

Lakeland said that the claims cover part of the Patterson Lake Corridor, which hosts at least four uranium discoveries.

Tri Origin Exploration has signed a joint venture agreement with Sumac Mines to carry out gold and base metal exploration in the Abitibi greenstone belt of Ontario.

Under the agreement, which is structured as an alliance, Tri Origin will research, acquire and explore properties under the guidance of a management committee formed from representatives of both companies.

For the initial target areas Sumac will provide fund for the work to a maximum total expenditure of C$4.5m.