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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (9411)	3/4/1998 11:17:00 PM
From: Arnie	of 15196

FIELD ACTIVITIES / Grande Portage Resources signs Agreement in Albania TORONTO, March 4 /CNW/ - Grande Portage Resources Ltd. (GPG - VSE) announced today that it has entered into a Heads of Agreement with SH.A. Albpetrol (''Albpetrol''), one of the state owned oil and gas companies of the Government of Albania. The agreement has granted to Grande Portage Resources Ltd. the exclusive right to negotiate with Albpetrol for the joint operation and development of the Delvina gas field. This field is located approximately 70 km from Fiesi in the mountains of Albania. The exclusive right is for a period of one year and expires March 3, 1999. The terms and conditions of the formal agreement, being a Joint Operating Agreement, will define the financial commitments of Grande Portage Resources Ltd. the fiscal regime under which the operations will be conducted and the profit sharing of the joint venture. Grande Portage Resources Ltd. has commenced these negotiations and anticipates concluding them over the coming months.

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