Attached files
file | filename |
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EX-99.2 - PRESS RELEASE - ARX Gold Corp | daulton_8k-ex9902.htm |
EX-99.1 - OPTION AGREEMENT - ARX Gold Corp | daulton_8k-ex9901.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities and Exchange Act of
1934
February 23,
2010
Date
of Report (date of Earliest Event Reported)
DAULTON
CAPITAL CORP.
(Exact
Name of Registrant as Specified in its Charter)
NEVADA
|
30-0459858
|
|||
(State
or Other Jurisdiction of
Incorporation
or Organization)
|
(Commission
File No.)
|
(I.R.S.
Employer
Identification
No.)
|
3960
Howard Hughes Parkway, Suite 500, Las Vegas, NV 89169
(Address of
principal executive offices and zip code)
(888)
387-1403
(Registrant’s
telephone number, including area code)
NOT
APPLICABLE
(Former
name or former address, if changed from last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
¨
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
¨
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
¨
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
¨
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
1.01 Entry
into Material Definitive Agreement.
On February 23, 2010, Daulton Capital
Corp., a Nevada corporation (the “Company”) and Shawn Ryan, an individual
(“Ryan”) entered into an option agreement (the “Agreement”) for the Company to
purchase from Ryan an undivided interest in the mining claims of a property
described as the “Balarat Property”. The Agreement provides the
Company with the option to earn 100% interest in the Balarat Property from Ryan
by making staged cash payments and issuing common shares of the company on or
before Aug 20, 2013. Ryan will retain a 2% net smelter return
interest that requires an advance royalty payment in the amount of $30,000
starting Aug 20, 2014. At the option of the Company, the net smelter
return interest may be reduced to 1% upon making a $2 million dollar payment to
Shawn Ryan. A fully executed copy of the Agreement is attached as
Exhibit 99.1 to this Form 8-K.
The
Company’s exploration plans for the Balarat Property is to establish a soil and
ground magnetic survey over the GSC anomalous silt drainage. The soil
sampling program will be followed up with a portable excavator trenching program
that the Company believes will generate numerous quality drill
targets.
The
Ballarat Property consists of 38 Yukon Quartz Mining Clams located in the Dawson
Mining District, Yukon Territory, Canada. The claim block is situated
3 miles south east of the Underworld resources, Black Fox
Property. The claim block covers 1900 acres or 7.6 square kilometers
and straddles Balarat Creek.
On
February 23, 2010, the Company issued a press release announcing the signing of
the Agreement as described above. A copy of the press release is
attached hereto as Exhibit 99.2.
Item 9.01 | Exhibits. | |
99.1
|
Option
Agreement between Daulton Capital Corp. and Shawn Ryan
|
|
99.2
|
Press
Release dated February 23, 2010
|
|
Signature
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
DAULTON CAPITAL CORP. | |||
Date:
February 25, 2010
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By:
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/s/ Terry Fields | |
Name: Terry Fields | |||
Its: Chief Executive Officer | |||