Explorer Southern Gold has inked an agreement with a subsidiary of fellow listed Aruma Resources to earn up to a 90% interest in the most prospective part of the Glandore project, in Western Australia.
Under the terms of the agreement, Southern Gold would make an initial cash payment of A$100 000 within ten business days. The company could then earn up to a 90% stake in the project area by spending A$1.2-million on exploration, over three tranches in the next three years.
