Glencairn, Kinbauri revise agreement

Under a revised agreement between Glencairn Explorations (TSE) and Kinbauri Gold (ASE), Glencairn can earn a 100% interest in the Alfie Creek kimberlite property near Kirkland Lake, Ont., by spending $200,000 on exploration and making a series of payments totalling $20,000 and 100,000 shares.

Kinbauri will retain a 15% net profit interest in the property, and will have the right to buy back up to a 25% working interest for $1.05 million.