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Great Basin Metals Inc. has signed a purchase agreement with Chris Osterman to acquire interests in the Covellite and El Tigre Projects in Arizona. The agreement includes the issuance of 6 million shares, cash payments of $20,000, and a 0.5% net smelter returns royalty.

The Covellite Project is notable for its potential silver and copper mineralization, while the El Tigre Project has historical silver production. Exploration and drilling permits are planned for both projects.