Star Alliance International Corp. signed an MOU with IDC Energy that sets out the terms of the purchase of the lease on a 160 acre lot that boasts an appraised value of gold and other resources in excess of $580 billion. The appraisal was completed in 2012 and updated for value in 2021.

STAR will initiate drilling and a current Technical Report (appraisal) under SEC guidelines as soon as possible. STAR has agreed to pay a down payment of $2.5 million with the terms of the balance of $10 million made up of cash and stock to be finalized. Although currently non-binding, STAR expects to close this transaction before the year end.

The financing for this project and the other projects including funding for Genesis, the Troy and Honduras mines are in advanced negotiations with draft documents being reviewed.