Southampton Ventures Inc. (TSX VENTURE:SV) ("Southampton") is pleased to announce that it has entered into an option agreement with a private individual whereby it may earn up to a 100% interest (subject to a 1% net smelter royalty) in 40 mineral claim blocks located in the Yukon Territory.
The optioned property extends Southampton's NiMo Project and its activities in the Yukon.
In order to acquire its interest in the property, Southampton is required to (i) make a cash payment of $25,000 and issue 75,000 common shares following receipt of regulatory approval of the option agreement; (ii) make a further cash payment of $100,000 and issue a further 125,000 common shares by July 30, 2008; and (iii) issue a further 300,000 common shares by July 30, 2009. All common shares issued pursuant to the option agreement shall be subject to a statutory hold period of four months and one day following the date of issuance thereof. The option agreement remains subject to the approval of the TSX Venture Exchange. -Southampton Ventures Inc.
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