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Gold/Mining/Energy : Sierra Nevada Gold - SDD.vse
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To: rdww who wrote (51)9/30/1999 2:54:00 PM
From: rdww  Read Replies (1) of 65
 
Sierra Nevada corrects previous news releases

Sierra Nevada Gold Ltd SDD
Shares issued 17,086,456 Sep 29 close $0.03
Thu 30 Sept 99 News Release
Mr. John Stewart reports
The news releases in Stockwatch Aug. 25, 1999, and Aug. 26, 1999, were
incorrect. Jon Stewart remains fully committed to obtaining finances and
joint ventures for the company, in this difficult metals market for
exploration juniors.
The news release in Stockwatch Aug. 25, 1999, regarding the status of the
Gold Spot project in Arizona was also incorrect. Mr. Stewart is still in
negotiations with the property owner of the Gold Spot and is still active
in procuring funds for the exploration phase of the property. These actions
are occurring as Gold stages a resurgence in the market. A review of some
of the sampling as reported to date on Gold Spot is as follows:

Width Au Ag
Sample (ft) (oz/t) (g/t)

GS No. 1 3.0 .629 12

GS No. 2 2.5 1.353 24

GS No. 5 3.0 4.236 23

GS No. 8 4.0 .231 11

GS No. 9 10 .218 9

GS No. 11 15 .002 3
Continuing work by the property owners in the form of VLF, mag +
radiometric, gold sampling and assays suggests reinforcing the company's
belief that the Gold Spot warrants further exploration.
With regard to the Promontorio, active discussions are still continuing
with a party interested in joint venturing the high-grade copper project in
Mexico. The property has a preliminary resource calculation of over
$95-million (U.S.) based on lower metal prices than the market currently
employs.
Mr. Stewart intends to move forward on these two ventures with the full
understanding and support of the current board.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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