July 23 (Reuters) - Ark Mines Ltd AHK.AX :
* ENTERED INTO A BINDING TERM SHEET WITH TERRITORY IRON TO SELL MT. PORTER FRANCES CREEK
* WILL ALSO SELL EXCLUSIVE GOLD RIGHTS OVER MINING LEASES & EXPLORATION TENEMENTS FOR $4 MILLION CASH
July 23 (Reuters) - Ark Mines Ltd AHK.AX :
* ENTERED INTO A BINDING TERM SHEET WITH TERRITORY IRON TO SELL MT. PORTER FRANCES CREEK
* WILL ALSO SELL EXCLUSIVE GOLD RIGHTS OVER MINING LEASES & EXPLORATION TENEMENTS FOR $4 MILLION CASH