The company has acquired 100% of the outstanding securities of Ra Resources by way of a ‘three-cornered amalgamation’ in accordance with the Business Corporations Act (Ontario).
Golden Phoenix CEO Tom Klein said that the company is now positioned to begin moving forward with its exploratory drilling program in the Shining Tree mining district.
"We expect to make initial inroads on our previously announced drill program during the second quarter of 2011," Klein said.
Golden Phoenix is a Nevada-based mining company whose focus is royalty mining in the Americas.
