Reservoir Minerals Inc. reported that it has signed a Letter of Intent granting Midlands Minerals Corporation an option to earn up to a 75% interest in Reservoir's Parlozi Lead-Zinc-Silver Project in Serbia. The Letter of Intent provides that Midlands may spend $4.5 million in exploration over four years to earn an initial 51% interest in the project, of which the first year expenditure of $500,000 is a firm commitment. Thereafter, Midlands can earn an additional 14% interest over two years by obtaining a Mining Exploitation Permit from the Serbian Government and a further 10% (for a total of 75%) by completing a Bankable Feasibility Study within two years of obtaining the Mining Exploitation Permit. Reservoir will be the project operator until Midlands has earned the initial 51% interest. The grant of the option is subject to completion by Midlands of legal and financial due diligence and the
execution of a definitive agreement.