Big Bear Mining Corp. is a North American exploration company focused on the acquisition and development of precious metals projects, particularly gold. The company currently has several gold properties in Wyoming and Ontario.
The company announced today the acquisition of a new property, consisting of 48 federal mining claims, in the Elk City gold project in Idaho County, Idaho. The property was acquired from Southern Legacy Minerals Inc. for 6 million shares of common stock and 6 million common stock purchase warrants. Additionally, 3 million shares of common stock were paid to a previous claim owner in exchange for significant amounts of historical data on the property.
The 48 Elk City claims are located along a 1.5 mile long shear zone that averages 60 feet wide and that hosts en echelon quartz veins. The property includes a historical underground mine called the Center Star Mine as well as the Commodore Project. The CEO of Big Bear, James Baughman, said, “This acquisition has staked our land position in a promising gold district in Idaho.”
Big Bear Mining also announced it has entered into the first phase of funding through new share financing agreements totaling $60,000. The money will be used to fund the drilling on its Lewiston and Rattlesnake Hills projects in Wyoming as well as to begin to advance the previous work already done on its newly-acquired historic Idaho property.
For further information about Big Bear Mining, please visit the company’s website at www.bigbearminingcorp.com
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