[Ferro-Alloys.com]Vendome Resources Corp. (TSXV:VDR) announced that it’s entered into an agreement to acquire Geomap Exploration Inc.’s Clinton manganese project in British Columbia.

 

As quoted in the press release:

 

The 3 claims comprising the acquired property are located approximately 3-6 kilometers to the south of the village of Clinton, British Columbia and cover 954.53 hectares of land.

 

In exchange for 100% interest in the Clinton Manganese Project, both Geomap, a British Columbia corporation wholly owned by Afzaal Pirzada and Larry Nemeth, an Ontario resident, both arm’s length parties to Vendome, will each receive 200,000 common shares of Vendome on a post-30:1-Share Consolidation (as defined below) basis and will each receive a cash payment of $10,000. In addition, both Geomap and Larry Nemeth will each retain a 1% net smelter return on the project which may be reduced on payment of $1million per 1%.

 

John Priestner, CEO of Vendome, commented:

 

We are very excited to have acquired the Clinton Manganese Project in such a prospective manganese district in Canada. We will be reviewing the past geological and exploration data available on the property. We intend to test the targets in the next drilling season.