Victoria Lake Inc. (LVCA)

[ConferredDiligence]

This is not the first time Otterburn Ventures has reneged on an option agreement.
Just last September :

Otterburn Ventures Terminates Option Agreement

Otterburn Ventures Inc. is an exploration-stage company. The Company is a junior mineral exploration company engaged in the acquisition and exploration of strategic mineral properties. The Company is primarily engaged in the exploration for, and the development of, mineral properties with silver, gold, zinc, lead, antimony, manganese, arsenic, mercury and other mineral. On September 29, 2010, the Company decided to terminate the Suskwa option agreement and returned the claims to the Optionor.

And in October 2008 :

Otterburn Terminates Option Agreement

VANCOUVER, BRITISH COLUMBIA - (Marketwire - Oct. 24, 2008) - Otterburn Ventures Inc. (the "Company") (CNQ:OTB) announces the termination of an option agreement (the "Option Agreement") with Rubicon Minerals Corp. (the "Optionor") dated February 5, 2007, which granted the Company the right to acquire a 100% interest in the Bathurst Mine Group claims, located in the Red Lake Mining Division, Ontario. Management decided to terminate the Option Agreement as it intends to focus on the exploration and development of the Company's Suskwa Mineral Claims, located in the Omineca Mining Division, British Columbia. To date the Company has made $21,000 in cash payments and issued 50,000 common shares of the Company to the Optionor. As a condition to terminate the Option Agreement, the Company will pay the Optionor $6,000.

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