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Gold/Mining/Energy : Twin Mining (formerly Twin-Gold)
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To: Valuepro who wrote (511)7/15/2002 11:27:05 AM
From: VAUGHN   of 613
 
Hello Valuepro

***OFF THE WIRE***

At least this is out of the way:

Twin Mining announces $4 million financing

/NOT FOR DISSEMINATION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES./

TORONTO, July 15 /CNW/ - Twin Mining Corporation ("Twin Mining") (TWG -
TSX) today announced that Kingsdale Capital Partners Inc. has been appointed
as its agent to offer, by way of private placement, up to 4,000,000 flow-
through units and 4,000,000 common share units, in each case at a price of
$0.50 per unit.
Each flow-through unit will consist of one common share and one-half
common share purchase warrant. Each common share unit will consist of one
common share and one common share purchase warrant. Each whole warrant
entitles the holder to purchase one common share at a price of $1.00 for two
years.
The closing date is expected to be on or about July 31, 2002.
The Company stated that the proceeds will be utilized primarily to
advance exploration of its Jackson Inlet diamond property and the feasibility
study on its Atlanta Gold Project.
Twin Mining, in addition to exploring the Jackson Inlet diamond project
on Baffin Island and the TORNGAT diamond project on the east side of Ungava
Bay in northern Québec, also holds a gold mining project in Idaho, United
States of America.

Regards

Vaughn
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