Spruce Mountain - gold base-metals

SPRUCE MOUNTAIN DISTRICT
ELKO COUNTY - NEVADA

TARGETS AND POTENTIAL
Classical eastern Nevada, with porphyry style base and precious metal deposits, skarn gold and other diverse mineralisation.

LOCATION
40 miles South of Wells.

PROPERTY
12 unpatented lode mining claims owned outright by BUS.

GEOLOGY
Underlain by Devonian limestones thrust over sequence of upper Palaeozoic sediments, interrupted by a complex of granite dikes, sills and plugs.

EXPLORATION HISTORY
Exploration by Battle Mountain-BUS, J.V. including drilling.

OPTION AGREEMENT
The property is subject to an option agreement with Great American Minerals Inc. “GAM”, of Utah under which GAM meets the costs of maintaining the property and invests US$250,000 in exploration over 5 years at US$50,000 per year from October 2008. At any time during the term, providing exploration and maintenance requirements have been met, GAM has the option to purchase the property for US$300,000 and Brancote US Inc. retains a net smelter royalty of 2 per cent, 1 per cent of which may be acquired by GAM for US$1 million.