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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (8198)12/31/1997 7:49:00 AM
From: Herb Duncan   of 15196
 
FINANCING / Millennium Energy Inc.Issues Flow-Through Shares

ASE SYMBOL: MLN

DECEMBER 30, 1997



CALGARY, ALBERTA--Millennium Energy Inc. announces that it has
entered into a private placement to issue 1.5 million units at a
price of $0.25 per unit, for gross proceeds of $375,000. Each unit
comprises one flow-though common share and one warrant exercisable
into a flow-through common share at an exercise price of $0.35 per
common share.

The proceeds of the private placement will be used to fund the
initial phase of Millennium's 1998 Alberta exploration program,
which includes completing seismic options in the Rumsey and Seal
West areas and drilling up to 5 shallow gas wells at Lac la Biche.
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