- Natural resource project generator Cloudbreak Discovery said it had secured a new partner for its Yak project in northwestern British Columbia, for gold mineralisation.

Moonbound committed to spend up to CAD $700,000 in exploration expenditure on the property, with at least CAD $150,000 to be spent prior to the second anniversary of Moonbound listing on an exchange, which is expected to occur within in six months.

After production gets underway, Cloudbreak will retain a 2% net smelter royalty and receive 2.7 million shares in Moonbound as well as cash payments of CAD $145,000 over a three-year period.

'The project targets gold mineralisation in northwestern British Columbia, covering an area of 4,020 hectares,' the company said.

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