Buckingham Exploration (BUKX) acquires option for 100 percent gold/silver property

Posted on: Wednesday, August 25th, 2010
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Buckingham Exploration (OTCBB: BUKX) announced today that the Company has optioned the Dome Property Mineral Claims in the Beaverdell Mining Camp, which is located in South Central Vancouver Island. Buckingham has acquired this option through its wholly-owned subsidiary, 0887717 B.C. Ltd.

Buckingham Exploration is an exploration stage company focused on the acquisition and exploration of mineral resources in North America, and through its subsidiary, has agreed to pay a total of $6,000 in cash and to grant an option to purchase shares of its common stock in consideration for the exclusive right to acquire a one hundred percent undivided interest in the claims. In addition, Buckingham has to incur not less than $10,000 in expenditures on exploration and development of the Property before September 30, 2010.

The Dome Property Mineral Claim is comprised of sixteen mineral claims covering approximately 360 hectares (890 acres), located four kilometers southeast of Beaverdell, British Columbia, in the heart of the historic Beaverdell Mining Camp. The Dome Project Mineral claims cover the historic workings of the Nepanee Prospect that was worked intermittently between 1904 through 1935 and is easily accessible by a network of well maintained logging roads and has a major power line traversing the Project.

The Company’s forecasted 2010 exploration program will be to explore and evaluate all of the mineralized shear zones that cross the Dome property in order to establish the most favorable drill targets to commence drilling.

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Category: Energy Stocks, OTCBB
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