Negotiations with John Williamson and Jim Greig of Benchmark Metals Inc. BNCH TSX.V during the spring of 2018 culminated in an LOI being entered into details of which are disclosed on Benchmark's SEDAR filings page. While the option remains in good standing Benchmark can earn up to a 75% interest in the claims by spending 9 million dollars in exploration expenses. Until Benchmark has incurred exploration expenses amounting to $5,000.,000, it does not have a vested interest in the Lawyers mineral claims. Provided exploration results are satisfactory to Benchmark management, we anticipate that by the end of 2019 at least the $5,000,000 will have been expended.
After earning its 75% Benchmark can purchase the remaining 25% from PPM on terms contained in the LOI.
The LOI stipulates that the option relationship be more clearly comprehensively agreed upon in a definitive agreement yet to be finalized.
For updates on the exploration progress you are referred to the Benchmark press releases as they may be circulated from time to time, given the public company status of Benchmark. Accordingly, until such time as circumstances change, no further information regarding the Lawyers claims will be provided here.