MIQ Press Release - Kinross Terminates Joint Venture
Good afternoon to you all. We have just received this press release from MIQ management and have been advised that management will follow with commentary later today.
Regards,
AGORA Internet Relations Corp
agoracom.com
EXPLORATION MIRANDOR INC.
PRESS RELEASE October 29, 1999
Exploration Mirandor Inc. (MIQ-ME), announces that Kinross Gold Corp. and Mirandor Inc. have terminated their joint venture project on the Railroad project in the Carlin Trend of Nevada.
Previously, Kinross Gold Corp. had indicated that they wished to substantially reduce their earn in requirements and exploration commitments on the project citing the current difficult gold environment. Exploration Mirandor was willing to make certain adjustments to the joint venture but not to the extent requested by Kinross.
Exploration Mirandor Inc. will now manage its own exploration program on the Railroad project, which has been the site of successful exploration programs in the past.
According to Kinross, results from the 1999 program will be available by the 1st week of November. Exploration Mirandor will be reviewing these results and a new exploration program will be designed.
It is in the opinion of Mirandor's management that this joint venture was very beneficial to the company as work done by Kinross has improved the knowledge we now have on the Railroad property and resulted in the discovery of the highly promising Bald Mountain area.
The Railroad project, consisting of some 55 square miles, is centered on the southern end of the Carlin Trend, and lies at the intersection of the NW-SE Carlin Trend and the N-S Pi¤ on anticline structure. It is located within a Carlin erosional "window" exposing at surface favorable lower plate sedimentary rocks.
For more information, please contact:
Mr. Gilles LaverdiŠre, president
Montreal office Tel: (450) 651-6701
Fax: (450) 651-8049
Val-d'Or office Tel: (819) 825-9065
Fax: (819) 825-1199
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