Piedmont Mining Co.
Inc.
of Reno signed a 10-year lease with an option to purchase the Antelope Ridge silver and gold property near Eureka.
The property includes 50 claims on the east flank of the Mahogany Hills.
Publicly traded Piedmont paid $10,000 in cash and 100,000 shares of its
common stock for the agreement.
Piedmont committed to spending $20,000 on the property this year and $100,000 in each of the next two years.
The lease payments rise to $20,000 in cash and $20,000 in stock annually beginning in the deal's third year.
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