Dakota Signs Agreement to Exploit Properties
in the "Golden Horseshoe" Just North of Toronto
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some people think that gravel and sand are as good as gold
LB
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DAKOTA RESOURCES LIMITED
1420, 734 - 7th Avenue S.W.
Calgary, Alberta, Canada T2P 3P8
Telephone: (403) 221-7715
Fax: (403) 221-7717
PRESS RELEASE - April 11, 1997
FOR IMMEDIATE RELEASE
Dakota Signs Agreement to Exploit Properties
in the "Golden Horseshoe" Just North of Toronto
DAKOTA RESOURCES LIMITED (the "Corporation") trading on The Alberta Stock
*Exchange (DAK) announces that it has entered into a binding letter of
intent with CRAV Enterprises Ltd. of Everett, Ontatio to extract "Grade A"
gravel, premium masonry and washed sands and other material from their
properties in the Township of Tosorontio which are situated 40 minutes north
of Pearson International Airport and 45 minutes north of the city of
Toronto, Ontario.
Dakota also will acquire an option from CRAV Enterprises Ltd to purchase the
properties which it may use for land development, in particular, luxury
housing, golf course/complex, multiple recreational opportunities, and
retirement communities.
This apparent change in corporate direction was actually designed to augment
the Corporation's mining exploration and development activities. Dakota's
entry into the "Golden Horseshoe", the burgeoning real estate and commercial
development market just north of Toronto, will increase its cash flow when
sales commence and will immediately and substantially increase the asset side
of the Corporation's balance sheet without incurring current
liabilities.
Honda Corporation of Canada which has a plant within five miles of the
properties, has just opened a second plant in the area and a third facility
for four wheel drive vehicles will also be located in the area.
Upon depletion of the aggregate, the optioned properties will have increased
value for real estate opportunities. The properties have abundant supplies of
water and the preliminary report that the Corporation has received proposes
the re-zoning of the properties for a subdivision component that would
attract the massive numbers of Toronto Area baby boomers that will be
retiring in the next decade. The area is a rural, open space, picturesque
setting, in close proximity to not only Toronto but also Blue
Mountain/Horseshoe Valley, as well as within ten miles of both Loretto and
Mansfield ski resorts.
CRAV Enterprises Ltd is currently negotiating the acquisition of several
additional properties in the "Golden Horseshoe". In addition, Dakota is in
the final stages of negotiating a "turnkey price" witb a contract processor
that should be completed by the end of next week. At that time the
Corporation will provide full and final details of all of its transactions.
This transaction is subject to the approval of The Alberta Stock Exchange and
The Alberta Securities Commission.
For further information regarding the Corporation please contact:
Mr. J. Robert (Bob) Bateman
Telephone (403) 22E-7715
Fax (403) 221-7717 |
