Two exploration companies of gold-mine will do cooperation to finance exploration and seeking of source of new gold-mine. Each this mine company will invest C$400,000 and C$100,000.

Laurentian Goldfields Ltd. and Kinross Gold Corporation have entered into a letter of intent to form an alliance to conduct a C$500,000 generative exploration program in the Uchi Geological Subprovince of Ontario and Manitoba over a period of one year. The Uchi Alliance will target the highly prospective Red Lake, Rice Lake, and Pickle Lake greenstone belts.

“This is another significant milestone in Laurentian’s strategy of allying itself with top-tier gold producers in the search for world-class gold deposits in Canada,” states Andrew Brown, President and CEO of Laurentian.

Kinross may elect to form a joint venture with Laurentian on a 50/50 percentage basis in any of the projects identified and acquired as a result of the Uchi Alliance. Kinross can increase its interest to 75% on each joint venture property by solely funding C$1.5 million of future exploration expenditures over a two year period from the date the joint venture is formed. The Uchi Alliance is subject to completion of a definitive alliance agreement between the two parties.

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