Yale Resources Ltd. (TSX-V – YLL and Frankfurt – YAB) is pleased to report that with a payment of US$170,000 and the issuance of 1,000,000 shares that it has received full payment from Sonora Resources Corp. for the sale of a 100% interest in the Los Amoles Property located in Sonora State, Mexico.
As announced on February 20, 2013 Yale agreed to convert an option for Sonora Resources to earn a 70 % interest in the Los Amoles property to the sale of a 100% interest in the property for US$200,000 and 1,000,000 shares in Sonora and had received a down payment of US$30,000. Previous to the sale of Los Amoles, Yale had received US$ 50,000 and 800,000 shares from Sonora, in addition to expenditures of approximately US$230,000 on exploration in the property by Sonora.
Formal documents have been filed with the Mining Registry in Mexico and the claims Los Amoles 2 and Los Amoles 3, fracc. 1 have now been transferred to Sonora Resources’ Mexican subsidiary.
About Yale Resources:
Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has six projects in its portfolio of which three are optioned out with commitments totalling approximately $0.7M in expenditures during the next 12 months.
On behalf of the Board,
“Ian Foreman”
Ian Foreman, P.Geo.
President
For additional information on Yale Resources please call the Company at 604-678-2531
Neither 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.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
