The company signed a purchase agreement with Nicoz Resources S.A. for 80% of the Mining Concession San Albino-Murra, which is in the northwest region of Nicaragua.
Among the conditions of the purchase agreement, Golden Reign Resources Ltd. must invest $5 million in the property in the next four years in extraction costs.
Nicoz Resources S.A., a Nicaraguan company, has the Mining Concession San Albino-Murra license for 25 years.