Vancouver, B.C. April 22, 2015: (TSXV: DSR) (“Desert Star” or the “Company”) announces that it has entered into an option agreement (the “Option Agreement”) for the purchase of the Fortuna #1 and Fortuna #2 patented lode mining claims, situated in the Pioneer Mining District, Pinal County, Arizona (the “Property”). These patented lode claims reside within the Company’s Copper King project area (figure 1).
Terms of the Option Agreement include the payment of $10,000 USD and the issuance of 25,000 common shares of the Company within 10 business days of TSX Venture Exchange (“Exchange”) approval. The option will be for a period of 12 months, with the Company having the right to extend the option for a further 12 months by paying an additional $15,000 USD to the sellers. The Company may elect to purchase the Property in full within the option period by paying an additional $50,000, issuing an additional 25,000 shares and granting a 1% net smelter return royalty (“NSR”) to the sellers. The NSR can be bought by the company by paying $100,000 USD any time prior to construction of a production facility.