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Northern Sphere Mining Corp. Announces Joint Venture On Arizona Silver Property
September 16, 2015 10:53 PM EDT | Source: Northern Sphere Mining Corp.
Toronto, Ontario--(Newsfile Corp. - September 16, 2015) - Northern Sphere Mining Corp. (CSE: NSM) is pleased to announce it has entered into a Joint Venture agreement with Trueclaim Exploration Inc. (TSXV: TRM) on TRM's Arizona Silver Property.
NSM has the right to earn up to a ninety percent (90%) interest in the property by bringing it into silver production. It can also purchase the remaining 10% for $2M. NSM has paid to date a total of $170,000.00 and has earned an eighty percent (80%) interest.
NSM is currently working with TRM's mining team to develop a mine plan and anticipates production to commence in the fourth quarter of this year.
Initial production will come from the Buckeye Patented claims which last produced in the late 1980's. It also has a production history spanning back into the 1800's. NSM is focused on near term production opportunities and feels this property fits well into that model.
This is not a non-arm's length transaction.
We seek safe harbour.
For further information, please contact:
John Carter
Chief Executive Officer
Northern Sphere Mining Corp.
Tel: 905-302-3843