Equinox Exploration Corp. Purchases the Remaining 60% Interest in Copper Queen Property; Announces Resignation of James Bunyan from the Board of Directors
July 30, 2012 at 09:00 am EDT
Equinox Exploration Corp. announced that as provided under the terms of the agreement announced May 2, 2012, for consideration of $275,000, Equinox has purchased the remaining 60% interest in the Copper Queen property, a 353.7 acre tract of 26 Federal patented mining claims on private land immediately adjacent to the Binghampton Property. The Binghampton Property consists of a 100% interest in a tract of land that includes state permits, unpatented mining claims on federal land, and private land totaling 4,331.8 acres. The Binghampton Property also included a 40% interest in an additional 353.7 acre tract of land immediately adjacent, with an agreement in place to acquire the remaining 60% interest within 90 days of the original transaction. Under the terms of the agreement, Equinox has purchased the remaining 60% interest for a $275,000 additional consideration.
The company also announced that Mr. James Bunyan has resigned from the Board of Directors.