Caribou King Finalizes Acquisition of Further Mulloy Claims

Caribou King Resources (TSXV:CKR,FWB:CB8) has completed its previously announced acquisition of three additional strategic claim blocks contiguous with the southwest border of its wholly owned Mulloy graphite project near the Zenyatta Ventures Albany graphite project in Ontario. After completing a due diligence review of the claim blocks, Caribou updated its terms, issuing three million shares to the vendor, who is at arms length to company. As quoted in the press release:
The acquisition increases the Company’s existing graphite property by 50% to 5,693 hectares, and includes the southwest end of a regional magnetic trend that encloses seven EM conductors. As announced previously, the seven conductors define a broad, southwest to northeast trending corridor that parallels the regional aeromagnetic trend for over 1.6 kilometers and remains open in all directions. Project maps are available on the Company’s website at http://caribouking.com/wpsite/graphite/mulloy/. With regards to the recently completed drill program at Mulloy, all core has been logged with select sections sent for assay analysis in the coming weeks.
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