LOI Signed For Samex Property

VANCOUVER - Quadro Resources Ltd. has signed a binding letter of intent (LOI) with an arm's length vendor for the Samex Property, comprising 179 claims covering approximately 4,110 hectares, in the Abitibi Greenstone Belt region of Ontario and Quebec. The LOI sets out a proposed transaction pursuant to which Quadro has acquired from Vendor an option to acquire a 100% interest in Vendor's Samex Property. The Proposed Transaction is subject to regulatory approval.

Following execution of the LOI, and subject to finalization of the terms of the Proposed Transaction, Quadro will prepare and promptly submit to Vendor, and the parties will diligently and in good faith thereafter negotiate, a definitive agreement (the "Definitive Agreement") setting out the terms and conditions of the Proposed Transaction.