The Bousquet-Odyno property is located in Canada in the Province of Quebec, approximately 45 km east of the city of Rouyn-Noranda and 85 km northwest of the city of Val-d'Or on the sheet NTS 32D/02. It covers an area of 1492.43 hectares and is made up of 37 contiguous mining claims.
Vanstar can earn a 75% interest in the property by spending $4 million over 4 years and will be the operator. In the first earn-in period, the Company can earn a 25% interest by spending $2 million on or before the 2nd anniversary of signing a definitive agreement, with a minimum of $500,000 as firm expenditures to be spent in the first year. In the second option period, the Company may earn an additional 50% interest by spending a further $2 million prior to the 4th anniversary date. IAMGOLD will have a right to earn back a 50% interest in the property by spending 4 times the exploration expenditures made on the property since the completion of the second earn-in period within a time period of 3 to 5 years, depending on the amount to be invested.
