On February 18, 2011 Antofagasta Minerals S.A. agreed to a strategic alliance, earn-in agreement and private placement with Eurasian Minerals Inc. The agreement is focused primarily on copper exploration in the country of Sweden. The agreement includes a regional strategic exploration alliance that covers all of Sweden (subject to certain exclusions), an option for Antofagasta to earn up to a 70% interest in the Kiruna South copper property, an agreement to designate other properties acquired by the alliance where Antofagasta can earn up to a 70% interest therein, and a $5,005,000 private placement into Eurasian.
Antofagasta was represented by, Daniel Altikes, Corporate Counsel to Antofagasta, and McMillan LLP with a team consisting of Darrell Podowski (mining) and Farzad Forooghian (corporate finance/securities).
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