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Eurasian Minerals Inc Signs Agreement to Regain 100% Control of Jointly Owned Akarca Gold-Silver Project in Turkey from Centerra Gold Inc


Tuesday, 30 Oct 2012 11:08am EDT 

Eurasian Minerals Inc (EMX) announced that it has signed an agreement to regain 100% ownership of the Akarca gold-silver property in Turkey (the Property). Previously, EMX had signed an agreement with a subsidiary of Centerra Gold Inc, pursuant to which Centerra could earn up to a 70% interest in the Property under a joint venture arrangement. Earlier this year, Centerra earned an initial 50% interest in the Property as a result of investing over USD5 million in drilling, geological mapping, geochemical sampling, and geophysical surveys. In June, EMX entered into discussions with Centerra to regain control of the Property in return for relieving Centerra of certain exploration and payment obligations. Centerra and EMX have signed an agreement pursuant to which EMX will again control 100% of the Akarca property.