Tombstone Explorations Co. Ltd.- Echo Bay granted option on Minoro Project.

Business Wire | September 27, 1995 | Copyright

VANCOUVER, BC--(BUSINESS WIRE)--Sept. 27, 1995--TOMBSTONE EXPLORATIONS (TSE:TSO) The Company announces that it has reached an agreement with Echo Bay Mines Ltd. in respect of the Minoro gold/copper project in Honduras.

Under the terms of the agreement, Echo Bay has paid $100,000 to Tombstone for an exclusive 60 day due diligence period.

If, after due diligence, Echo Bay elects to proceed to earn a 51 percent interest in the Minoro Project, then it must:

- invest a total of $6,000,000 in Tombstone by way of staged share purchases

- having invested ...

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