Vancouver, BC February 19th, 2014 - Full Metal Minerals Ltd. (FMM-TSX:V) ("Full Metal) is pleased to announce that it has signed a letter agreement to sell its interest in the Unga/Popov Gold Property to Redstar Gold Corp ("Redstar"). Redstar currently holds an option to acquire a 60% interest in the property from Full Metal (see the Full Metal news release dated June 13, 2011). Full Metal has an Exploration Agreement with Option to Lease with the Aleut Corporation, an Alaska Native-owned Regional Corporation.
Under the terms of the letter agreement, Redstar will issue 4,000,000 shares and pay $50,000 to Full Metal. Closing of the transaction is subject to conditions including receipt of TSX Venture Exchange approval, the completion of a definitive agreement and signing Surface Access Agreements for the Unga Property.
"Enabling Redstar to proceed with exploration with a 100% interest on the Unga/Popov Property is in the best interest of both Companies," said Robert McLeod, CEO and Vice-President of Exploration for Full Metal. "Full Metal will continue to be exposed to exploration upside in the Property through our shareholding, and the transaction will allow us to concentrate on the nearby Pyramid copper-gold-molybdenum Deposit."
Full Metal is a generative exploration company focusing on precious and base metal projects in Alaska.
"Robert McLeod"
Robert McLeod
CEO and VP Exploration
For more information please contact:
Rob Mcleod
rmcleod@fullmetalminerals.com
604-484-7855
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Full Metal is a silver and gold exploration company based in Canada.
Full Metal holds various exploration projects in Canada.
Its main exploration properties are SHUMAGIN/APOLLO and CENTENNIAL PROJECT in USA and ANGIE-CAT, NADALEEN, MOORE CREEK, OG PROPERTY, RUSSIAN MOUNTAIN, HORN MOUNTAIN, PORT MOLLER, CHIGNIK, ROLLING THUNDER, PEBBLE SOUTH, PYRAMID ( ALASKA), 40 MILE, GRIZZLY BUTTE, BOULDER CREEK, TANACROSS and FORTYMILE ALASKA in Canada.
Its stock quote reached its highest recent level on December 02, 2005 at CA$ 9.60, and its lowest recent point on February 26, 2016 at CA$ 0.02.
Full Metal has 5 930 940 shares outstanding.