Almadex Options Los Venados Project to Wolverine Minerals Corp.

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1744-tsx-venture/amz/27169-almadex-options-los-venados-project-to-wolverine-minerals-corp.html

VANCOUVER, BC–(Marketwired – November 29, 2016) – Almadex Minerals Limited (“Almadex” or the “Company”) (TSX VENTURE: AMZ) (OTCQB: AXDDF) is pleased to announce that it has signed a definitive agreement to option all of its interest in the Los Venados project to Wolverine Minerals Corp. (“Wolverine”) (TSX VENTURE: WLV) in exchange for CAD$30,000 on execution of the agreement for expenditures on the property, up to 2 million WLV shares over a three year period, and a retained 2.0% NSR royalty. In addition, Wolverine has agreed to drill a minimum 1,000 meters by the second anniversary of the date of approval of the agreement by the TSX Venture Exchange (“Approval Date”), as part of total required project expenditures of a minimum of US$500,000 by the third anniversary of the Approval Date. The Definitive Agreement is subject to acceptance for filing by the TSX Venture Exchange on behalf of Wolverine.

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