To all.... Did anyone else get this? Is this supposed to make me feel warm and fuzzy. I know, lets get into more properties instead of promoting the ones we already have. Comments?
Al
April 8, 1997
SHAREHOLDER UPDATE
RUSSIAN OPPORTUNITY
All Shareholders are no doubt aware of our current exploration activities
on our various properties located in the Northwest Territories, Ontario,
Cuba and Indonesia. Notwithstanding the recent events affecting junior
mining exploration companies, Mill City remains confident that market
forces will stabilize and proper value will be attributed to our various
property interests.
Dating back to late 1994, Mill City was introduced to certain opportunities
by an individual acquainted with your Chairman. This same individual has
now brought to us exciting opportunities in Russia and specifically certain
diamond properties located in the Arkhangelsk Region situated in north-west
Russia (including the Lomonosov deposit referred to below). This Region
displays geological features similar to those in other parts of the globe
where diamonds have been discovered, the most famous of local discoveries
being the Lomonosov deposit, some 90 - 100 km north of Arkhangelsk where
total reserves are estimated in the range of 120 million carats, over 60%
of which are believed to be of gem quality.
As a result of increasing world-wide interest in diamond exploration and
the ever expanding desire and intention of the Russian authorities to
increase the exploration and development of its vast resources, Mill City
has been invited to travel to Russia for the purpose of reviewing certain
opportunities on behalf of Mill City and two of its associated companies,
Global Discovery Corp. and Global Strike Resources Inc. It is the
intention of your Chairman and President to travel to Russia during
mid-April to meet with various government and private sector officials for
the purpose of securing exploration activities on behalf of Mill City and
its associated companies. In addition to your Chairman and President,
certain individuals will be traveling to Russia, including Mr. Bill Jarvis,
our geological consultant. Mr. Jarvis is a renowned geological consultant,
having consulted to numerous companies and currently a director of TNK
Resources Inc. and directing TNK's diamond exploration program in Botswana.
We are looking forward to an interesting trip and remain optimistic that
some exciting and rewarding opportunities may be secured.
Respectfully Submitted
on Behalf of the Board of Directors
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