The Brew Property is located in the White Gold District, Yukon Territory and is comprised of 168 quartz mining claims covering an area of 33sqkm. The property is 100km south of Dawson City and 20km east of Underworld Resources (Kinross) White Gold discovery.
Universal may acquire a 50% stake in the Brew Property over a three year period by paying Aldrin $425,000, incurring exploration expenditures of $1.35m and paying Aldrin 50% of the value of the Aldrin shares which are issuable to the optionee of Brew Property, Ryanwood Exploration.
The Brew property was originally staked by Shawn Ryan of Ryanwood Exploration. It was optioned in June, 2009, to Aldrin who has the right to acquire a 100% interest over a four year period by paying Ryanwood $425,000, incurring $1.5m in expenditures and issuing 1250000 Aldrin shares to Ryanwood.
Preliminary exploration completed on the Brew property by Ryanwood is reconnaissance level work. Work planned by Universal in 2010 includes expanding the soil survey, completing a trench excavation program to better expose the structural setting and completing detailed sampling of the soil anomalies.
In addition to the geochemical sampling, Universal intends to complete geological mapping and expand the ground magnetiometer survey.
