en.Wedoany.com Reported - Independent mineral exploration company General Copper Gold has signed an option agreement with private company Frantier Mining Namibia, securing an exclusive and irrevocable option to acquire an 80% undivided interest in exploration license applications covering approximately 48,500 hectares in Namibia. The licenses are located in the eastern part of the Northern Zone of the Damara Belt in the Otjozondjupa Region of north-central Namibia, an area known to host economic deposits of tin, uranium, gold, and base metals, with well-developed infrastructure adjacent to highways, railways, and power supply.

Under the agreement, General Copper Gold is required to pay US$60,000 in cash on the closing date upon completion of due diligence. Within the first year after closing, the company must incur a minimum of US$150,000 in exploration expenditures on the mineral rights to earn an initial 40% interest; within the second year, an additional minimum of US$300,000 must be spent to earn an additional 40% interest. Completion of the transaction is subject to regulatory approvals (including the Canadian Securities Exchange, CSE) and the company's completion of a private placement financing totaling no less than C$1.5 million.

Furthermore, the company announced that, following CSE approval, Percy Clark has been appointed to the Board of Directors. Clark is a registered professional geologist who participated in the exploration and feasibility study of the Cote Gold project at IAMGOLD and currently serves as President and CEO of Clark Exploration. Other board members include Michael Curtis, Garry Clark, and James Newall.

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