Focus Metals Inc. (TSX VENTURE:FMS) announced the signing of an option agreement with SOQUEM Inc. (a wholly owned subsidiary of the Société générale de financement du Québec), to acquire a 50% interest in the Kwyjibo property, located 125 kilometers northeast of Sept-Îles, Quebec.

The press release is quoted as saying:

Under the terms of the Agreement, Focus Metals may acquire a 50% interest in SOQUEM’s Kwyjibo REE-Cu property, by spending up to $3M in exploration work on the property over a period of five (5) years of which $1M must be spent during the first two (2) years.

Click here to access the entire press release

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