Located in the Beatty Township, Ontario, the property covers 400 hectares of early Precambrian gold mineralized rocks belonging to the Abitibi Greenstone Belt.
Separately, McLaren Resources has exercised its option to earn a 50% interest in this property from Red Mile under the terms of an agreement signed last year.
Red Mile said it has also signed a letter of agreement to form a joint venture on the Blue Quartz property.
McLaren will issue 100,000 shares to Red Mile and become operator of the property on standard industry terms.
The Blue Quartz property is comprised of 25 patented mining claims, consolidated into Parcel 23623.
