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Brazauro Resources: Eldorado Gold Corporation Continues Exploration at Tocantinzinho.

Publication: Business Wire
Publication Date: 23-APR-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
HOUSTON -- Eldorado Gold Corporation has advised Brazauro that during the nine month period from August 2008 through the first quarter of 2009 it has expended C$5.1 million on Brazauro's Tocantinzinho Project in Brazil for exploration, drilling, capital expenditures and other related matters. Under the terms of the Option/Joint Venture Agreement between Brazauro and Eldorado, before Eldorado may exercise its options to acquire up to a 75% interest in the Tocantinzinho Project, Eldorado must spend not less than C$9.5 million in qualified expenditures by July 28, 2010.

Mark E. Jones III, Chief Executive Officer of Brazauro in commenting on the expenditures...

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