VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/25/11 -- Gryphon Gold Corporation (TSX: GGN)(OTCBB: GYPH) ('Gryphon') announced that, effective May 20, 2011, it exercised the option to fix the Net Smelter Return (NSR) royalty on its Borealis property at 5%. In August 2008, Gryphon and its wholly-owned subsidiary, Borealis Mining Company, entered into an option agreement with the lessors of the Borealis property
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