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Great Basin Metals Inc. has entered into a purchase agreement with Chris Osterman to acquire 100% rights to the Covellite and El Tigre Projects in Arizona. The agreement entails issuing 6 million common shares, with $20,000 cash consideration ($10,000 per project), and a 0.5% net smelter returns royalty.

The Covellite Project, located near the Sierrita Mountains, shows promising silver-copper mineralization, while the El Tigre Project, known for high silver content, requires further exploration. Great Basin intends to apply for drilling permits for both projects immediately.