(Confirmation)
MacDonald Mines Hornby/Pender property agreement
MacDonald Mines Exploration Ltd (2) (C:BMK)
Shares Issued 185,998,409
Last Close 8/24/2010 $0.175
Tuesday August 24 2010 - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to an purchase and sale letter of agreement dated Aug. 6, 2010, between MacDonald Mines Exploration Ltd. and Temex Resources Corp., a TSX Venture Exchange-listed company, whereby the company will acquire a 45.59-per-cent interest in certain mining claims (the Hornby/Pender properties), located in the James Bay Lowlands in Ontario. Upon completion of the transaction, the company will own a 100-per-cent interest in the properties.
Under the terms of the agreement, the company will acquire the remaining 45.59-per-cent interest in the properties by issuing one million common shares and one million common share purchase warrants to the vendor. Each common share purchase warrant entitles the holder to acquire one common share at 25 cents (500,000 warrants) and at 40 cents (500,000 warrants) for a two-year period.
For further details, please refer to the company's news release dated Aug. 17, 2010.
� 2010 Canjex Publishing Ltd.
