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EX-10.1 - EXHIBIT 10.1 JOINT VENTURE AGREEMENT - NORTH SPRINGS RESOURCES CORP. | f8k_ex10z1.htm |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 29, 2011
NORTH SPRINGS RESOURCES CORP.
(Exact name of Company as specified in its charter)
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Nevada | 333-167217 | 68-0678790 |
(State or other jurisdiction | (Commission File Number) | (IRS Employer |
of Incorporation) |
| Identification Number) |
| 200 S Virginia, 8th Floor Reno, NV 89501 |
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| (Address of principal executive offices) |
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| Phone: (775) 398-3078 |
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| (Companys Telephone Number) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:
. 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))
NORTH SPRINGS RESOURCES CORP.
Form 8-K
Current Report
Item 1.01 Entry into a Material Definitive Agreement
On December 29, 2011 North Springs Resources Corp., a Nevada corporation (the Company) entered into that certain Joint Venture Agreement (the JV Agreement) with DNP Mining LLLP, an Arizona limited liability company (DNP), whereby the Company shall form a joint venture with DNP in order to conduct mineral exploration activities on or about various unpatented mining claims situated in Yavapai County, Arizona collectively known as the Gold Star and One Arm Joe Properties (the Property). Pursuant to the JV, the Company shall acquire a twenty percent (20%) working interest in the Property in exchange for paying an aggregate of five hundred thousand dollars ($500,000) in funding for phase 1 of the Property, and the Company has the right to acquire an additional fifteen percent (15%) working interest in the Property upon supplying funding equal to three million dollars ($3,000,000) to finance phase 2 of the Property
The foregoing summary description of the terms of the JV Agreement may not contain all information that is of interest to the reader. For further information regarding the terms and conditions of the JV Agreement this reference is made to such agreement, which is filed as Exhibits 10.1 to this Current Report on Form 8-K (the Current Report) and is incorporated herein by this reference.
Item 2.03
Creation of a Direct Financial Obligation.
The information provided in Item 1.01 of this Current Report is incorporated by reference into this Item 2.03.
Item 9.01
Financial Statements and Exhibits.
(d) | Exhibits |
Exhibit No. | Description |
10.1 | JV Agreement with DNP Mining LLLP dated December 29, 2011. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| NORTH SPRINGS RESOURCES CORP. | |||
Date: December 30, 2011 | By: /s/ Harry Lappa |
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| Harry Lappa | ||
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| President and CEO |