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[QUOTE]Originally posted by oneleg: [QB] Treasure Gulch Gold Mine VHGI owns a Lease-Purchase Option Agreement for the Treasure Gulch Gold Mine in Prescott, Arizona. The mine is part of a much larger parcel of property which includes eight mining claims in the Bradshaw Mountains of Arizona. Unverified historical due-diligence material estimates Proven and Probable Gold Reserves in excess of $35,000,000.00 using a valuation of $800.00 per ounce. The subject property is located south of Prescott, AZ within the Hassayampa District, and is composed of three claims. It is an old mine that produced gold ore from a narrow portion of the vein and from underground open stopes. The previously worked vein is 6' to 12' in width and the adjacent Zero extension, also a part of this property, is from 2' to 5' in width. Recently VHGI Gold secured both an extension of the Lease Periode and a modification to the Treasure Gulch Gold Mine Lease Purchase Option. The Term of the Lease has been extended through February 15, 2013 for VHGI to conduct gold mining activities at the site, and we have also secured renewal options through 2023. Additionally, we have been granted a reduction in the strike price for the outright acquisition of the property through our Lease-Purchase Option. As there is an additional incentive to acquire the property within six months, we intend to explore financing options to complete this transaction subject to due diligence and feasibility studies [/QB][/QUOTE]
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