Press release from Marketwire
Rockhaven Resources Ltd. Options Out Three Ruby Range Properties to West Point Resources Inc.
Tuesday, November 15, 2011
Rockhaven Resources Ltd. Options Out Three Ruby Range Properties to West Point Resources Inc.13:30 EST Tuesday, November 15, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2011) -Rockhaven Resources Ltd.(TSX VENTURE:RK) ("Rockhaven") is pleased to announce that it has granted West Point Resources Inc. ("West Point"), a private arm's length British Columbia company, an option to earn a 100% interest in the Kluane, JPR and Gladstone properties located in the Whitehorse Mining District of southern Yukon, Canada.West Point can earn a 100% interest in the three properties by making aggregate payments of $525,000, issuing an aggregate four million shares of West Point to Rockhaven and incurring exploration expenditures of $1,000,000 over a four year period. Initial cash payments of $50,000 and the issuance of 1,500,000 West Point shares are firm commitments on the part of West Point. The option is subject to West Point completing a TSX Venture Exchange listing by August 31, 2012.Rockhaven will retain a 1.5% net smelter return royalty interest (NSR) in the properties. A portion of the properties is also subject to a 1% NSR held by an arm's length third party.Rockhaven is a well funded company that is focused on growth through exploration of its own projects and continues to work towards adding new advanced stage projects to its portfolio.FOR FURTHER INFORMATION PLEASE CONTACT: Matthew TurnerRockhaven Resources Ltd.CEO604firstname.lastname@example.orgNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.