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Gold/Mining/Energy : Shore Gold C.sgf

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To: Terence Mitchell who wrote (292)	9/3/1997 10:08:00 AM
From: Bohdan	of 550

Shore Gold acquires interest in Fort a la Corne diamond project; financing Rio Nevada Mines Corp RN Shares issued 5,750,000 Sep 2 close $0.27 Wed 3 Sept 97 News Release Mr David Badyk reports Rio Nevada Mines has successfully completed the sale of its 25% undivided gross interest in Fort a la Corne diamond project to Shore Gold, in consideration for which Rio Nevada received 250,000 shares of Shore Gold and a 3% net profits interest in respect of the diamond project. The disposition of the interest in the diamond project reflects Rio Nevada's commitment to carry on business exclusively in the oil and gas industry. Rio Nevada has also arranged a private placement of $280,000 worth of flow through common shares at $0.35 per share. A warrant is attached to each share, with each four warrants entitling the holder to buy an additional flow through common share at a price of $0.50 per share for one year. The proceeds will be used to finance Rio Nevada's current oil and gas exploration program. The flow through common shares (with attached warrants) are being purchased by a wholly owned subsidiary of EnerVest Resource Management on behalf of the EnerVest FTS Partnership 1997, a high tax effective investment providing an estimated 88% tax writeoff for 1997. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com I don't own any stock. Just happened to trip over this

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