Margaux Resources Ltd. announced that it has entered into an option agreement with a third party (the Vendor) to option the Old Timer gold property, near Salmo in southern British Columbia. The Old Timer Property is a road-accessible property, located 10 km north of the company's Jackpot property, at the north end of the historic Ymir gold belt. It is comprised of 16 mineral claims, totaling approximately 1,790 hectares. The Old Timer Property hosts several known gold-bearing veins. The majority of historic exploration has targeted the Old Timer vein, which has been traced on surface and by historic diamond drilling, intermittently for a strike length of 800 m. A 100 m portion of the vein was stripped off in 1980, where it reportedly averages 3 m in width. At present, the stripped area is badly sloughed and the vein is only partly exposed. Reported grades from historic drilling1,2 in the vicinity of the stripped area include the following. The reader is cautioned that these are historical results which have not been independently verified by Margaux. Margaux has located and retrieved some of the historic drill core from the Old Timer Property and is in the process of relogging select drill holes. Results from 15 rock samples collected during a site visit to the Old Timer Property have also been received. Fourteen of these 15 samples returned elevated gold values, including a grab sample that assayed 7.9 g/t Au and a 2 m chip sample that assayed 7.5 g/t Au. Terms of the Option Agreement include staged payments totaling $50,000 and 500,000 common shares of the company over a 4 year period, for Margaux to acquire a 100% interest in the Old Timer Property. The Option Agreement and the issuance of Shares thereunder is subject to TSX Venture Exchange approval.