http://www.ithmines.com/s/northbullf...

Redstar is progressing these projects using other peoples money while retaining a significant portion of the project post feasability. This will keep the RGC share structure tight.

The next project to undertake a sugar dady will be Newman Todd... either a equity financing via a major.... or a JV such as ITH or Goldfields...

Combined ITH and Goldfields are committed to over $22 million to advance the projects through feasability while RGC retains 30%...I like it!

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ITH deal:

A map showing the target areas and broad soil and rock gold anomalies can be found on the company's website. The drilling was done by ITH, which can earn a 60-per-cent interest in the project by making expenditures of $4-million and can earn an additional 10 per cent (for a total of 70 per cent) by producing a feasibility report.

ITH has retained an independent contractor to complete an initial National Instrument 43-101 resource estimate for the Mayflower deposit scheduled for completion later this year. ITH is also planning additional drilling in late 2008 to address expansions of the Mayflower deposit as well as test other targets in the district. Additional information regarding the North Bullfrog project is available at the company's website.

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Goldfields deal:

Under the terms of the agreements Gold Fields can earn a 60-per-cent interest in the respective properties by making the payments and work commitments shown in the table over four years (all amounts are in U.S. dollars).

                   Cash payments    Work commitments

Richmond Summit         $290,000          $3,500,000
Dry Gulch                      $190,000          $2,000,000

After earning a 60-per-cent interest Gold Fields may earn an additional 10-per-cent interest in a property (bringing the total to a 70-per-cent interest) by making additional expenditures of $7.5-million at Richmond Summit and/or $5-million at Dry Gulch.