I don't think I've seen this release posted, so here it is:
TYLER RESOURCES INC ("TYS-T;TYRRF-L") WINSPEAR RESOURCES LTD ("WSP-V") ABER RESOURCES LTD ("ABZ-T") - Lac De Gras Exploration Update
Tyler Resources Inc. ("Tyler") has been informed that the summer exploration programs have commenced on the Carat, Crystal and Gem properties located in the Lac de Gras, Northwest Territories, diamond camp.
CARAT PROPERTY The 38,189 hectare (94,364 acre) Carat property is operated by Winspear Resources Ltd. ("Winspear") which has the option to earn a 70% interest in the property by issuing 200,000 of its common shares (100,000 issued to date) to Tyler and incurring exploration expenditures of $2,000,000 on the property by December 31, 2002. Winspear has transferred all of its right, title and interest in the Carat option agreement to Diamondex Resources Ltd. ("Diamondex"), and, as a result, for every one share of Winspear to which Tyler is entitled to receive under the option agreement, Tyler will receive one share of Winspear and 0.125 of one share of Diamondex. Winspear has spun-off its early stage exploration projects, other than the Camsell Lake project, into Diamondex, which will fund further exploration on the Carat property.
Winspear has completed about 3,900 kilometres of detailed geophysical surveys on the Carat property as well as collecting and analyzing about 395 till samples. A total of 42 samples contained kimberlite indicator minerals. A $203,000 summer 1999 exploration program has commenced to test those areas which proved anomalous in the 1998 sampling program and to test high priority airborne geophysical anomalies.
CRYSTAL PROPERTY The 49,200 hectare (121,584 acre) Crystal property is operated by Aber Resources Ltd. ("Aber") which can earn a 50% interest from Tyler by incurring $1,750,000 in exploration expenditures by December 31, 2002. Aber has a second option to increase its interest from 50% to 70% by incurring an additional $3,500,000 in exploration expenditures. Aber has undertaken a detailed airborne geophysical survey and preliminary results have identified approximately 65 first and second priority targets which will be ground checked, till sampled and analyzed for kimberlite indicator minerals. The estimated budget is $450,000 for this exploration program.
GEM PROPERTY The 27,174 hectare (67,145 acre) Gem property is also operated by Aber who can earn a 50% interest by funding $750,000 in exploration by December 31, 2002. Aber has a second option to increase its interest to 70% by incurring an additional $1,500,000 in exploration expenditures. A total of 106 till samples have been collected and are being analyzed for kimberlite indicator minerals. The budget for this fieldwork is about $177,000.
KELSEY PROPERTY Tyler has now staked a total of 78,730 hectares (194,539 acres) in the Walmsely Lake area of the Lac de Gras diamond camp. A compilation of assessment file data from previous exploration work has revealed several interesting geophysical and indicator mineral dispersion patterns in the area. No high resolution helicopter borne geophysical survey has been completed over the Kelsey property area. Subject to the availability of exploration funding, an exploration program will be developed to evaluate the Kelsey property during 1999. "LESLEY HAYES"
LESLEY HAYES DIRECTOR
No Canadian Stock Exchange has approved nor disapproved of the information contained herein.
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and future plans and objectives of Tyler Resources Inc. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
For Further Information or for a copy of the map included in this release Contact : Investor Relations at 1.888.237.7898 Web: gold.ca TEL: (403) 269-6753
TYLER RESOURCES INC. FAX: (403) 266-2606
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