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George's Lake Project, La Ronge, Saskatchewan
(mineral -- gold (Au))
War Eagle earned a 90% property interest in the George's Lake gold property, located approximately 135 kilometres northeast of La Ronge, Saskatchewan and 15 kilometres southeast of the producing Seabee Gold mine. The George's Lake property hosts numerous quartz / tourmaline structures that contain very interesting gold values over significant widths. The local and regional geology of the area is a favourable host for gold mineralization.
War Eagle entered into a letter of intent with Yankee Hat Minerals Inc. ("Yankee Hat") whereby Yankee Hat may acquire up to a 70% interest in the property by incurring exploration expenditures of a total of $1,500,000 by December 31, 2010. In July 2008, this letter of intent was terminated.
War Eagle is seeking partners to enter into strategic agreements to advance or option the George's Lake property.
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