NEWS: DIAMOND TIME!
NEWS RELEASE
SANFRED RESOURCES LTD.
MARCH 10, 1999
Sanfred (SND on VSE) is pleased to announce that Pure Gold Minerals, Inc.(PUG-TSE),has entered into an agreement with Sanfred Resources, Ltd., in terms of which Pure Gold can earn a 30% interest in Sanfred's Beniah Lake property by spending $100,000.00 on exploration expenditures and issuing 100,000 shares. To earn an additional 20%, Pure Gold may spend a further $100,000 and issue an additional 100,000
shares. The Property is subject to a 3% GORR in favour of Sanfred and partners of which 1.5% can be purchased for $1,000,000.
The Beniah Lake Property is contiguous to the Winspear Resources (WSP.VSE) Camsell and Hilltop Properties.
Pure Gold plans to initiate a bulk heavy mineral till sampling program coincidental with an airborne mag-EM survey over developed areas of interest on the Beniah Lake Project and will continue with a follow up program on the ZL-Claims recently acquired from Cypango Ventures Ltd.( see news release-Oct.20.1998).
Pure Gold's interest is subject to a regional Slave Joint Venture, whereby Pure Gold(24%) and Ashton Mining of Canada, Inc.(ACA.TSE/ME) (76%) have a general agreement covering participation in programs in the Slave Province. Ashton has been informed of the Venture and has the right to elect to participate.
This agreement is subject to the acceptance of the Vancouver Stock Exchange.
On Behalf of the Board:
Sanfred Resource, Ltd.
per: Michael McCormick
President |
