Covering a total of 39,125 hectares, the mineral claims are located 230km north-west of La Ronge and 445km north of Prince Albert, Saskatchewan, and the north-eastern corner of the claims are 10km from the Key Lake uranium mill.
In August, 1839579 Alberta completed purchase of 25% interest in claims from Majesta Resources.
Under the deal, it has an option to buy additional 35% undivided interest by depositing $400,000 into a joint venture account for exploration work and issuing 4,000,000 common shares at $0.05 per unit by the end of this year.
Hodgins plans to raise $1,000,000 in flow-through shares to finance the latest transaction, and fund further exploration and drilling work on the claims.
Majesta will manage all exploration activities as part of a joint operating agreement until Hodgins gains at least 75% ownership.
The acquisition is subject to TSX venture and shareholders’ approval and raising of around $450,000 through non-brokered private placement.
Hodgins also has an option to buy additional 30% interest before 2015-end by paying $400,000 to Majesta and offering 2,000,000 common shares.
