LKA Grants Richmont Mines An Option to Earn a 50% Interest In Golden Wonder Mine.Lka Grants • November 9th, 2007 • Lka International Inc /De/ • Mining & quarrying of nonmetallic minerals (no fuels)
Earlier this week, on November 5, LKA International, Inc. (OTCBB:LKAI). entered into an agreement (the “Agreement”) with Richmont Mines Inc. (AMEX:RIC) which grants Richmont an option to earn a 50% joint-venture interest in LKA’s Golden Wonder Mine located near Lake City, Colorado.
STRICTLY CONFIDENTIALStrictly Confidential • November 9th, 2007 • Lka International Inc /De/ • Mining & quarrying of nonmetallic minerals (no fuels)
This Letter Agreement , as well as the execution of a formal and more detailed option and joint venture agreement (the "OJV Agreement") and the completion of all other transactions contemplated herein, are hereinafter collectively referred to as the "Transaction". The Offer is made and the Transaction shall be completed, in accordance with the provisions and subject to the terms and conditions set forth in this Letter Agreement. Richmont and LKA are sometimes hereinafter collectively referred to as the "Parties" and, individually, a "Party".
