Revolution Resources (OTCQX: RVRCF; TSX: RV) has entered into an agreement with Lake Shore Gold to acquire up to 100% of Lake Shore Gold’s interest in four large property groups formally held by West Timmins Mining Inc. (Lake Shore Gold acquired West Timmins Mining in November 2009). The projects are located within two of Mexico’s most prolific mining districts, near Goldcorp’s Penasquito and Camino Rojo Mines, and have multiple drill ready targets that Revolution intends to begin work on this year. Revolution and Lake Shore Gold will look to enter into a formal agreement with respect to the transaction by October 31, 2011.
The four Mexican properties are host to multiple discoveries and several past producting regions. According to Aaron Keay, President and CEO of Revolution, “The Lake Shore Gold Mexico portfolio becomes the Company’s second flagship portfolio, in addition to the existing discoveries at Revolution’s Champion Hills District in North Carolina. These properties represented an opportunity to acquire highly-prospective gold and silver properties that have not had recent drill testing – we could not pass up this opportunity. As we prepare for the exploration program on our newly-acquired Mexican portfolio, we will also continue to advance our Champion Hills gold properties in North Carolina.”