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Gold/Mining/Energy : Western Pacific Gold WPI

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To: Ronald Russell who wrote (25)	9/2/1999 11:20:00 PM
From: Nikole Wollerstein	Read Replies (1) of 32

The President of Western Pacific Gold Inc. (WPI), Mr. Nicholas Mather announces that WPI and SMC Resources Limited (SMC) have agreed to terminate the previously announced agreement to sell Australian Resource Management (ARM) Pty Ltd., a wholly owned subsidiary of WPI, to SMC. The transaction was not finalized due to certain closing conditions of the agreement not being fulfilled. WPI management will continue to review business opportunities that will provide WPI shareholders with added value. It is the intention of the company to maximize the return of the remaining capital and seek out viable business alternatives.

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