News

SIGN UP

Enter your name and email address to receive Gunpoint newsletters

Your Name:
Email Address:

News 2005

CHRISTOPHER JAMES ACQUIRES OPTION ON VALLE GRANDE PROPERTY, CATAMARCA, ARGENTINA

December 15, 2005

Christopher James Gold Corporation (the "Company") announces that it has entered into a definitive option agreement (the "Option Agreement") with Argentine Frontier Resources Inc. ("AFR") for the acquisition of a 60% interest in the Valle Grande Property, a polymetallic manganese-opal vein system located in the Province of Catamarca, Argentina.

The Valle Grande Property consists of numerous small, centimetre-to-metre thick veins within an area greater than two kilometres by three kilometres. The most significant mineralization occurs as outcropping veins, breccia, stockwork and sinters that are associated with selvages of opal, illite and montmorillonite alteration hosted in an unaltered ignimbrite. Based on geological mapping and rock chip sampling by AFR, it is believed that the system has potential to host a large-scale resource of molybdenum, copper, lead and cobalt.

In order to earn its interest under the Option Agreement, the Company must:

- incur an aggregate $2,500,000 in expenditures over a period of four years, of which $250,000 must be incurred in the first year of the agreement; and

- make payments to AFR over four years totalling $400,000 and issue 1,000,000 shares, of which $75,000 must be paid and 200,000 shares issued in the first year.

Once the Company has acquired its initial 60% interest in the property, it may acquire a further 10% interest by incurring all expenditures necessary to obtain a bankable feasibility report on the property.

The Option Agreement includes an area of interest clause, pursuant to which the Company may elect to include under the Option Agreement any interest in any mineral concession obtained by AFR within four kilometres of the outer perimeter of the property. In addition, the Company has been granted the exclusive right, until March 31, 2006, to negotiate and enter into an agreement with AFR for the acquisition of AFR's Cristalita and Fruso Properties in the Salta Province, Argentina.

The obligations of the Company are subject to certain conditions precedent, including receipt of all requisite regulatory approvals. The Company will pay a finders fee in connection with this transaction.

On Behalf of the Board:

Albert A. (Ab) Ablett, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

For further information contact Albert A. Ablett (250) 573-3111.