Lucky Boy Silver Corp entered into an agreement to acquire Chedic graphite property from GeoXplor Corp. for $1.7 million on April 24, 2012. The purchase price consists of $0.43 in cash and issuance of 2.5 million shares. As reported, $0.05 million will be paid on signing of the agreement, $0.25 on or before 6 months from April 24, 2012, $0.25 on or before 12 months from April 24, 2012, $0.50 on or before 18 months from April 24, 2012, $0.75 on or before 24 months from April 24, 2012 and $0.50 on or before 30, 36, 42 and 48 months from April 24, 2012 and 0.5 million shares will be issued on signing of the agreement and 0.5 million shares on or before 6, 18, 24 and 48 months from April 24, 2012. At closing Lucky Boy will convey to GeoXplor a 2.5% Net Return Royalty on the property. The closing of the transaction will be held four years from the April 24, 2012.