Raiden Resources Limited announced that it has entered into a binding earn-in/option letter agreement with Velocity Minerals in regard to its 100% owned Zlatusha project in Bulgaria. Key Terms of the Agreement: The Parties agree to negotiate in good faith toward the execution and delivery of a definitive property option agreement within 30 days of the execution and delivery of this Letter Agreement, on the basis of which Velocity will seek TSX-V approval. Under the terms of the Letter Agreement, Velocity has the exclusive option to earn up to a 75% interest in the project, by making staged cash and stock payments to Raiden, undertaking a minimum amount of drilling and defining technical milestones.

First Option terms: Velocity has the exclusive right to earn into a 51% project level interest by: Within ten business days of the Commencement Date, making a CAD 100,000 cash payment and issuing CAD 100,000 of Velocity shares2 to Raiden; Within 30 days of the Commencement Date, refund Raiden for all environmental and Ministerial work guarantees, which are in place in regard to the Zlatusha project; Making a CAD 250,000 cash payment and issuing a further CAD 100,000 of Velocity shares to Raiden before the third anniversary of the Commencement Date; Completing at least 28,000 meters of reverse circulation or diamond drilling on the Property before the third anniversary of the Commencement Date, with a requirement to complete a minimum of 8,000 meters before the first anniversary of the Commencement Date and 10,000 meters before the second anniversary of the Commencement Date; Delivering an Inferred Mineral Resource estimate on a deposit located within the Property Area prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, before the third anniversary of the Commencement Date. If Velocity executes the terms of the First Option, the parties will form a Joint Venture. Under the agreement Velocity will have the exclusive right to earn a further 24% project level interest (75% cumulative) through the "Second Option".

If Velocity fails to meet the requirements of the First Option, it will not earn an interest and Raiden will retain 100% of the project. Second Option terms: Velocity has the exclusive right to earn into an additional 24% (Cumulative 75%) project level interest by: Making a CAD 350,000 cash payment and issuing CAD 100,000 of Velocity stock to Raiden before the fifth anniversary of the Commencement Date: Drilling 8,000 meters before the fourth anniversary of the Commencement Date; Drilling 4,000 meters before the fifth anniversary of the Commencement Date and Delivering a Preliminary Economic Assessment before the fifth anniversary of the Commencement Date. If Velocity fails to meet the terms of the Second Option its ownership shall remain at 51%.

If Velocity earns into a 75% position, Raiden will have the option to co-finance its portion of further expenditure to maintain its position. If either party dilutes below a 15% interest in the joint venture, the interest will automatically convert to a 1% NSR, where the majority party will have the sole right, but not the obligation to purchase down 0.5% of the royalty for CAD 1.5 million.