Copper Reef Mining Corporation (CNSX: CZC) the "Company" wishes to announce that it has reached an agreement with Jaxon Minerals Inc (JAX-TSX-V). "Jaxon" to acquire, under a four year option, he Company's Burn Property for a total consideration of $10,000, 1,900,000 shares and a work commitment of $600,000 to earn 100% interest. Copper Reef will retain a 2.5% NSR of which 1 percentage point can be purchased by Jaxon for $1,000,000 or alternatively, at the Company's election, payment of a $1.00 per ton royalty for ore extracted from the property.
Full Release attached in PDF Format
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