Northern Minerals & Exploration Ltd. (NMEX) (“Northern” or the “Company”) has entered into a preliminary joint venture agreement (the “Agreement”) with a private Mexican entity to work together on the raising of capital funds necessary to build a 68 room Waterfront Hotel & Resort & 92 residential Jungle villas, Cenote Villas, 4 bars & restaurants, clubhouse, tennis, aquatic center, wellness center & etc on a beautiful property (“Property”) situated on the Caribbean coast of the Yucatan Peninsula in the State of Quintana Roo, Mexico.
Under the terms of the Agreement Northern has the right to participate for a 20% interest in the Property. The Property consists of approximately 207.5 Acres +/- (84 Ha) and 3,444.8 ft (1050 meters) Lagoon front plus 1033.4 ft (315 meters) waterfront. The estimated cost to build this luxury HOTEL property is approximately $US 40,000,000 +/- and $US 150,000,000 +/- for the Villas. Zulia www.zuliabacalar.com
Lake Bacalar is a long and narrow lake in the state of Quintana Roo, Mexico. It is approximately 42 km long measured from north to south and less than 2 km at its widest. The lake is renowned for its striking blue color and water clarity, partly the result of having a white limestone bottom.
Comments from a recent tourist: “We’ve been to Laguna Bacalar five times, we cannot get enough. 33 miles of crystal freshwater surrounded by tropical jungle, what more can you ask for. Everyone should experience this place at least once. It is also close to Mahahual on the Caribbean Sea, the Mayan Ruins at Chacchoben are amazing and the capital city of Chetumal is an easy 45-minute drive away, outstanding part of Mexico!”