Replies to post #1379 on Gold Exploration in West Africa

[Tackler]

Another one for you, wish I had some when this came out...

MVT MaxTech to explore RiverCess county in Liberia

2005-10-31 17:36 ET - News Release

Mr. Thomas Tough reports

MaxTech Ventures Inc. has entered into a mineral exploration agreement with the government of the Republic of Liberia. The agreement covers an area of 1,000 square kilometres in the RiverCess county, an area that is prospective for gold, base metals and diamonds. The mineral exploration agreement is for a period of three years and is renewable at the company's option for an additional two years thereafter. Under the terms of the agreement, a land rental payment of $44,478 (U.S.) is required to be made on or before Nov. 5, 2005.

In addition, MaxTech has also entered into a joint venture agreement with the owners of 500 acres of land covering placer gold occurrences along the Sahnkwehn River, Sinoe county, Liberia. MaxTech, the project operator, will receive 75 per cent of the profits derived from the project and the partner will receive 25 per cent. The project lies to the south of the area covered by the mineral exploration agreement with the government of the Republic of Liberia.

The joint venture agreement covers a period of 10 years and is renewable for a further 10 years on terms and conditions to be agreed upon by the parties.