(RTTNews) - Infinito Gold, Ltd. (IG.V) and Shoreham Resources Ltd. completed and executed a definitive purchase and sale agreement pursuant to a non-binding letter of intent previously disclosed. Total consideration is US$500,000 in cash and the issuance of 1.6 million common shares of Shoreham to the company.

Under the terms of the Agreement Shoreham would buy 100% of the issued and outstanding common shares of Infinito's subsidiaries in Guyana and Aruba which hold the Marudi Mountain and Paint Mountain, and Potaro mineral concessions.

The company would be granted a 2% Net Smelter Returns royalty on all future mineral production from the Marudi Mountain Project to a maximum of US$3 million. The company would also receive from Shoreham a 2% NSR royalty for all future alluvial, saprolite and bedrock production from the Potaro Project, to a maximum of US$2