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Gold/Mining/Energy : Black Swan

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To: Keiv who wrote (3146)	9/17/1999 11:22:00 AM
From: Edmund Lee	Read Replies (1) of 3186

Thursday September 16, 5:59 pm Eastern Time Company Press Release SOURCE: Black Swan Gold Mines Ltd. Black Swan Gold Mines Ltd. announces expiry of option to purchase Tejucana Diamond Project VANCOUVER, Sept. 16 /CNW-PRN/ - Black Swan Gold Mines Ltd. Trading Symbol: TSE - BSW BERLIN - BSM FRANKFURT - BSM Black Swan Gold Mines Ltd (''Black Swan'') would like to announce that it has determined not to exercise the option to purchase the operations of Mineracao Tejucana SA (''Tejucana''), a Brazilian registered company with diamond mining interests along the Jequitinhonha River in north-east Minas Gerais State, Brazil. The option period has now expired and Black Swan will consider and is in discussions with the owners of Tejucana with the view to investigating further exploration opportunities for the project. During the option period, Black Swan conducted extensive due diligence into the possibility of commencing, in a relatively short period of time, profitable production at Tejucana's properties using selective mining techniques and the existing low cost dredging equipment. It has now been determined that further exploration involving more detailed drilling would be required in order to satisfy this objective. Black Swan will make further announcements regarding this matter if and when an agreement is reached with the owners of Tejucana. THE TORONTO STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS NEWS RELEASE SOURCE: Black Swan Gold Mines Ltd. ---------------------------------------------------------------- More Quotes and News: BSM - news Black Swan Gold Mines Ltd (Toronto:BSW.TO - news) Related News Categories: mining/metals

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