VANCOUVER, British Columbia - April 19, 2012 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL, OTCBB: YRLLF, and Frankfurt: YAB) is pleased to report that it has received $50,000 and 50,000 common shares from Overlord Capital Ltd. as the initial commitment for the recently finalized option of an up to 70% interest in Yale's wholly owned Orofino Property located in Sonora State, Mexico. The transaction is Overlord's "Qualifying Transaction". Yale will be the initial operator and will manage the exploration on the property.
The first year's requirement will be $200,000 in exploration
expenditures followed by a further $400,000 in the following year,
$750,000 in the third year and $750,000 in the final year of the Option
Agreement. Subsequent share issuances of 500,000, 150,000, 350,000 and
250,000 shares on the first, second, third, and fourth year
anniversaries will also be due in order to keep the Option Agreement in
About Yale Resources:
Yale Resources utilizes the project generator business model to
maximize its exposure to discovery while minimizing shareholder risk.
Yale currently has eight projects in its portfolio of which four are
optioned with commitments totalling approximately $1.0M in expenditures
during the next 12 months. At the same time Yale continues to work on
its non-optioned properties as well as reviewing new projects.
On behalf of the Board,
Ian Foreman, P.Geo.
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.
Yale Resources Ltd.
400 - 409 Granville St.,
Vancouver, BC, Canada V6C 1T2
News Release #12-4