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Gold Dynamics signs to acquire and develop Santiago Gold Property
11 July 2011: Gold Dynamics Corporation is to sign of a definitive agreement for the acquisition of the Santiago Gold Property with Artemio Terrazas Arredondo and Norma Velazquez Jurgeit (Collectively known as Vendors) that formalizes the terms that were previously outlined in a letter of intent.
The agreement provides Gold Dynamics with an option to earn a 100% interest in the property from the Vendors. Under the terms of the agreement, Gold Dynamics will be required to make cash payments of $ 435,000 over a two year period and commence a work program that will also incorporate a diamond drill program. The Vendors will retain a 2% net smelter return interest (NSR) on the property. Gold Dynamics can purchase 1% of the NSR for 700 ounces of gold or its equivalent in United States dollars.
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