Salmon River Resources to receive US$2 million loan in exchange for iron ore

Vancouver, British Columbia-based mineral exploration company Salmon River Resources Ltd. announced Thursday that it has entered a loan agreement with Rigdon Limited to which Rigdon Limited will lend Salmon River US$2 million. From the start date of the loan through the next two months, Salmon River has agreed to not enter into any new negotiations with any third party companies in competition. The loan agreement will grant Rigdon an opportunity to enter into an "off-take agreement" which would allow Rigdon to have priority rights to purchase up to 1 million tons of iron ore mined from the Treppo Grande's principal tenements.