News Release
em-vse? huh... any comments
November 10, 1999 VSE Symbol ? PVF
PARAMOUNT VENTURES AND FINANCE INC. AND EASTON MINERALS LTD. PROPOSE
TO FORM A BRAZILIAN GOLD AND DIAMOND JOINT VENTURE
Paramount Ventures and Finance Inc. (PVF-VSE) and Easton Minerals Ltd. (EM-VSE) are pleased to
announce the following corporate developments.
Paramount has applied for mineral claims totaling 215,000 hectares in the State of Mato Grosso, Brazil
principally for the exploration and development of alluvial gold and diamond deposits there. The
application for the mineral claims was filed by two private Brazilian companies in which Paramount owns
an eighty (80) percent interest
Paramount and Easton have signed a Letter of Intent whereby Paramount has agreed to sell a thirty (30)
percent interest in the two private Brazilian companies to Easton Minerals for US $400,000. To give
effect to the letter of intent, Easton will pay Paramount US $100,000 on or before November 25, 1999.
The remaining US $300,000 will be paid within 45 days of the signing of the Letter of Intent.
The letter of intent further provides for the formation of a joint venture between Paramount and Easton.
The joint venture will explore and develop the mineral claims held by the two Brazilian companies.
Paramount will act as initial operator of the joint venture.
Easton has the option to acquire an additional twenty (20) percent interest in the two Brazilian companies
from the other shareholder holding the twenty (20) percent interest.
The terms of the sale and joint venture are subject to approval of the Board of Directors of Paramount and
Easton and any necessary regulatory approvals.
?Paul Conroy? ?Jeremy Kendall?
Paul Conroy, Chairman Jeremy Kendall, Chairman
For further information, contact: For further information, contact:
Paul Conroy, Chairman Jeremy Kendall, Chairman
Paramount Ventures and Finance Inc. Easton Minerals Ltd.
1260-355 Burrard Street 2838 Highway 7
Vancouver, B.C. V6C 2G8 Norval, Ont., L0P 1K0
Tel. (604) 687-1334 Fax (604) 687-1338 Tel (905) 455-1990 Fax (905) 455-2529
Web site: http//www.paramountvf.com
The Vancouver Stock Exchange has neither approved nor disapproved of the information contained herein. |
