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Gold/Mining/Energy : VENGOLD VENGF this is real

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To: mick who wrote (252)	12/10/1999 10:31:00 PM
From: banco$	Read Replies (3) of 350

"focus on investing its resources in private Internet related companies" VEN 1999-12-10 Vengold : Company Announcement VANCOUVER, BRITISH COLUMBIA--Vengold has identified the need for a significant pool of capital targeted at the internet and e-commerce industry and is pleased to announce that in future it will focus on investing its resources in private Internet related companies. This new venture will advise early stage companies in all aspects of their development, including strategic technical and capital markets. To assist in the implementation of this shift in strategic focus it has engaged two technical consultants with considerable experience in this area. Operations are expected to commence in early 2000. As part of this change and subject to regulatory approval, Dennis Wing, Director of International Operations, at Fahnestock & Co. Inc., a U.S. investment bank, has been appointed to the Board. Mr. Wing was a founder and Director of International Finance at First Marathon for over 18 years and is director of a number of technology companies. Vengold currently holds cash and securities valued in excess of Cdn.$70 million. The implementation of this strategy will allow Vengold shareholders to participate in the rapid growth of the internet sector via investments in private companies not normally available to the public. The company intends to convene a meeting of shareholders early in the new year to approve a new name and other related matters associated with this change. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Vengold Inc. Ian Telfer (604) 664-7050 (604) 681-9151 (FAX) or Vengold Inc. Giulio Bonifacio (604) 664-7050 (604) 681-9151 (FAX) (provided courtesy of Canadian Corporate News.)

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