Nov 28 (Reuters) - Archer Exploration Ltd AXE.AX :
* EXECUTED CONTRACT FOR SALE OF SUGARLOAF FARM LAND
* UNDER DEAL, CO WILL SELL ENTIRETY OF SUGARLOAF FARM LAND BUT MAINTAINS OPTION TO BUY BACK ABOUT 30% OF SUGARLOAF FARM LAND
* EXECUTION OF BINDING SALE AGREEMENT FOR SUGARLOAF FARM LAND TO VALUE OF $1.35 MILLION