Lions Gate Metals Inc. (TSX VENTURE:LGM) and Ausnico Limited today announced that they have entered into a binding letter of intent dated December 17, 2009 containing the principal terms of the business combination transaction disclosed in the Company’s news release dated September 3, 2009.
The press release is quoted as saying:
Lions Gate is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage mineral projects. The Company owns 100% of three substantial copper and molybdenum projects located in British Columbia. The Company’s flagship project is the Poplar porphyry copper – molybdenum deposit near Houston, BC. The Huckleberry Mine, located approximately 35 kilometers southwest of the Poplar Deposit, produces copper and molybdenum from a deposit of similar age and setting.
