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Gold/Mining/Energy : Golden Knight Resources GKR-VSE

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To: Robert Morris who wrote (8)	4/1/1998 8:30:00 PM
From: Buckey	of 63

Golden Knight sells Casa Berardi interest to TVX Golden Knight Resources Inc GKR Shares issued 26,858,496 Apr 1 close $1.75 Wed 1 Apr 98 News Release Also TVX Gold Inc (TVX) Mr R.A. Quartermain of Golden Knight reports Golden Knight has sold its 40% interest in the Casa Berardi mine to TVX Gold, the operator of the Casa Berardi joint venture. Under the terms of the agreement, TVX will pay Golden Knight one dollar, assume Golden Knight's obligations and liabilities with respect to the Casa Berardi Mine and release Golden Knight from all amounts due to TVX.In November 1997, Golden Knight and TVX announced the signing of a letter of intent for the sale of the Casa Berardi Mine to Aurizon Mines Ltd, subject to due diligence, financing and regulatory approvals. As a result of the sale of its interest to TVX, Golden Knight will no longer be participating in the sale of the Casa Berardi Mine to Aurizon. Mining operations were suspended at the Casa Berardi mine in the first quarter of 1997 and Golden Knight's investment in the Casa Berardi mine was fully written off at year-end 1996. Golden Knight recorded no revenues from mining operations at Casa Berardi in 1997 and suspended cash call payments to TVX, as operator, in the first quarter of 1997. Golden Knight holds a 17.5% in Gold Fields Ghana Limited which holds the mining rights to the Tarkwa Concession in Ghana. Construction of surface mining operations is well advanced and production is expected to commence in the second quarter of 1998. Golden Knight also has interests in 12 other concessions in Ghana and Burkina Faso, and the Night Hawk Lake joint venture and the CFM claims in the Timmins gold and base metal camp. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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