American Marconi Wireless News - Zeus North America Mining Corp. Signs Option Agreement to Acquire Mining Claims in Idaho

Terms of the Option Agreement:

Subject to Canadian Securities Exchange approval, Gary Baker ("Baker") will grant, Zeus' wholly-owned subsidiary, CJ-1 LLC the sole and exclusive right to acquire a 100% interest in the Claims over a five year period by making the following cash payments:

• US$15,000 upon the signing of the Option Agreement;

• US$25,000 six months following the date of the Option Agreement;

• US$40,000 on or before the first anniversary of the date of the Option Agreement;

• US$40,000 on or before the second anniversary of the date of the Option Agreement;

• US$50,000 on or before the third anniversary of the date of the Option Agreement;

• US$50,000 on or before the fourth anniversary of the date of the Option Agreement;

• A final payment of US$530,000 on or before the fifth anniversary of the date of the Option Agreement.

If all cash payments have been made within the five year option period, CJ-1 LLC will be deemed to have acquired a 100% interest in the Claims and will grant to Baker a 2% net smelter returns ("NSR") royalty on the Claims, of which one half of the respective royalty (1%) may be acquired by CJ-1 LLC at any time for a purchase price of US$1,000,000. CJ-1 LLC has the option to make an aggregate payment of US$500,000 prior to the date that is 18 months from the date of the Option Agreement to satisfy all option payments.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Dean Besserer, P.Geo., the President & CEO for the Company and Qualified Person as defined in NI 43-101.

On behalf of the board of directors.

"Dean Besserer"

President and CEO

For more information, please contact the Company at [email protected]

Phone: +1 (604) 684-6730

About Zeus North America Mining Corp.

The Company is in the business of mineral exploration. The Company is focused on its exploration properties in the state of Idaho known as the: Cuddy Mountain; Selway; and Great Western properties, respectively. The Idaho properties consist of 101 (Cuddy Mountain), 57 (Selway) and 38 (Great Western) lode mining claims respectively and cover a cumulative area of approximately 4,200 acres. The Company's flagship Cuddy Mountain Property is adjacent to Hercules Metal Corp's Leviathan Copper Porphyry discovery. More recently, the Company entered into an option agreement to acquire a 90% interest in the Delker and Bulls Eyes copper-gold properties in Nevada, and an option agreement to acquire a 100% interest in certain patented mining claims in Idaho.

Forward Looking Statements

When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this news release include, amongst others, the Company's exploration plans. Such statements and information reflect the current view of the Company. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements or implied by such forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions.

The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable). The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. The Company does not undertake to update this information at any particular time except as required in accordance with applicable laws.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE: Zeus North America Mining Corp.

View the original press release on ACCESS Newswire

P.Martin--AMWN