The Ylöjӓrvi Project is comprised of two large granted exploration reservations as well as a smaller exploration permit application, covering approximately 10,700 ha of the prospective volcano-sedimentary Tampere Schist Belt.
FireFox is earning a 100% interest in the Ylöjӓrvi properties from Magnus Minerals per the agreement described in the August 1, 2017 news release. The agreement requires a combination of common shares issuance (completed) plus $250,000 cash and $2.5M in exploration expenditures over a three-year period. Magnus Minerals retains a 1.5% NSR which may be reduced by 1% in return for the payment to Magnus of 1000 troy ounces of gold. The agreement also includes properties in the Jeesiö and Riikonkoski Projects.