| ||May 18, 2012|
Amendment for Yukon Prospect
| ||Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE: HAO.V) wishes to report that the Company has amended the terms on the Haldane Silver Prospect, originally announced on December 3, 2009, subject to regulatory approval.|
In the current option agreement, the remaining terms before vesting on the Haldane Silver Prospect are: (a) cumulative exploration expenditures of $2 million by December 22, 2012; (b) cumulative exploration expenditures of $4 million by December 22, 2013; (c) $250,000 cash payment by December 22, 2013; (d) issuance of 200,000 common shares by December 22, 2012; and (e) issuance of 1,000,000 shares by December 22, 2013.
The news terms provide an extension of one year, which would change the terms to the following: (a) cumulative work of $2 million by December 22, 2013; (b) cumulative work of $4 million by December 22, 2014; and (c) $250,000 cash payment by December 22, 2014. The dates remain the same for the issuance of the common shares. Also, there would be an additional 1,000,000 common share issuance by December 22, 2014, as consideration for extending the dates.
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Habanero Resources Inc.
Tel: 604 646 6900
Jason Gigliotti, President
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