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Gold/Mining/Energy : INTERNATIONAL TAURUS RESOURCES INC. (ITS:VSE)
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To: Bob Walsh who wrote (102)8/19/1999 5:26:00 PM
From: Bob Walsh  Read Replies (1) of 123
 
News release: International Taurus forms gold subsidiary

International Taurus Resources Inc ITS
Shares issued 28,530,403 Aug 18 close $0.24
Thu 19 Aug 99 News Release
Mr. Robert Blakestad reports
The company is in the process of transferring all of its precious metals properties into its new subsidiary, Newco Gold Corp. This transfer should be completed within the next two weeks.
Newco Gold was incorporated in the state of Colorado, and has been formed for the purpose of enabling Taurus to focus its resources in the precious metals area more effectively. Newco Gold has been established to give the shareholders in International Taurus Resources the ability to diversify their investment.
Newco's initial properties will include Taurus' interest in the Fenelon A gold deposit and its new discovery on the Martiniere D property as well as its other holdings in the Casa Berardi area of Northwestern Quebec. Also included is the Taurus Gold property in Northern British Columbia and the north shore property in Southern Ontario.
Newco's initial gold holdings will contain at least 2.5 million ounces of gold in a combination of resource categories, ranging from minable reserves to drill-indicated mineral inventory.
Newco's focus will be the realization of near-term cash flow from its high-grade projects and aggressive exploration and development of its gold resource properties and new discoveries.
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