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MAG SILVER
MAG SILVER AGREES TO JOINT VENTURE WITH CANASIL FOR LA ESPERANZA PROJECT
MAG Silver says it has signed an agreement to earn a 60 per cent interest in the
La Esperanza project in Mexico from Canasil Resources Inc. Under the
agreement, MAG will pay $5 million in exploration expenses and $500,000 in
cash over four years, the company said Thursday. The company's first payment
will be $50,000, and its spending on the property will be $750,000 for the first
year, it said. The La Esperanza project spans 18,954 hectares on the northern
end of the Fresnillo Silver Trend in the Zacatecas and Durango states of Mexico.
(Canadian Business)
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