Agoracom

In order to earn its undivided 50% interest in the Claims Nuinsco shall, upon execution and delivery of a definitive Option and Joint Venture Agreement, make a cash payment of $50,000 and issue to Temex 200,000 common shares of Nuinsco. In order to earn its interest, Nuinsco must also complete $500,000 of exploration expenditures before the first anniversary of the agreement and an aggregate of $750,000 over a two-year period. Nuinsco must also issue an additional 100,000 shares upon completion of the first $500,000 in exploration expenditures. Nuinsco shall be entitled to extend for one year the time for completion of each milestone of the Work Commitment by notice to Temex if given prior to the applicable anniversary of signing. Each extension shall require Nuinsco to issue Temex 50,000 common shares of Nuinsco. The terms of the transaction are subject to TSX Venture Exchange approval.

During the earn-in period, Temex will act as operator for the first $500,000 in exploration expenditures and is entitled to charge an industry standard management fee. Nuinsco shall be granted the right to elect to become operator once the initial $500,000 in exploration expenditures has been completed. Upon Nuinsco earning its 50% interest in the Claims, Temex shall have 60 days from the date of exercise of the Option to elect either to form a 50:50 Joint Venture with Nuinsco for further exploration and development of the Claims or to forego the Joint Venture and reduce its undivided 50% interest in the Claims to a 15% carried and non-assessable interest in the Claims to the date of commencement of commercial production from the Claims. Should Temex elect to form a Joint Venture, Temex shall be the operator and the Joint Venture shall be governed by a joint management committee.

Looks like TME will begin to be more active then they have been in the past year. Lets get things moving!