Tag Archives: Zara Mining SC

Eritrea and Chalice Gold Mines Signs Share Holders Agreement

Chalice 60%, Eritrea 40% Share agreed

Chalice Gold,

Chalice Gold Mines Limited (ASX:CHN; TSX:CXN) is pleased to announce that, further to the announcement of 16 June 2011 in which it advised that it had reached agreement with the Eritrean National Mining Corporation (“ENAMCO”) for ENAMCO’s acquisition of a 30% participating interest in Chalice’s Zara Gold Project in Eritrea, East Africa, Chalice and ENAMCO have now executed a Shareholders’ Agreement to incorporate and regulate their relationship and obligations within Zara Mining Share Company (“Zara Mining SC”) which will be the entity which is to own and operate the Koka Gold Mine and explore the surrounding Zara Licences.

Zara Mining SC will be owned 60% by Chalice and 40% by ENAMCO. Continue reading Eritrea and Chalice Gold Mines Signs Share Holders Agreement