Patagonia Capital Initiates Investment Coverage of Columbia River Resources Inc.
with Full Research Report to be Released in January 2000
Columbia River Resources, Inc. (?CRVV? on OTC ? BB)
Suite 304 856 Homer Street Vancouver, B.C. V6B 2W5
Phone: (604) 688 - 1163 Fax: (604) 688 - 6375
Website: columbiariver1.com
An emerging African exploration company with a major gold discovery in Ghana and potentially world-class tantalum projects in Nigeria
We believe that Columbia River Resources Inc. (?CRVV? on OTC-BB) has assembled the two key ingredients for success as a mineral exploration company: an experienced management team with successful track records, and a potential major gold discovery. As such, the company warrants serious consideration by speculative investors seeking significant returns with limited downside risk over the next 12 to 24 months.
CRVV HAS MADE A MAJOR DISCOVERY ALONG GHANA?s PROLIFIC YAMFO GOLD TREND
On Monday, CRVV exercised their option to acquire 100% of the Tanoso Reconnaissance License, subject to a 10% carried interest to the Republic of Ghana and a 10% NPI to Ayaco Ghana Ltd.
Recently completed regional exploration work by Columbia River on the Ayaco property has defined a +100 ppb gold-in-soil anomaly 2.8 kilometers long and up to 300 meters wide. Depth continuity of the anomaly has been verified by excavation of pits into the saprolite (one to four meters deep), which have established that gold mineralization is associated with quartz veining. Pit wall samples run up to 8 gm Au/MT. Trenching is underway to further establish controls on the mineralization at Ayaco. Columbia River Resources is planning an RC drilling program on this target in early 2000.
To the southwest of the Ayaco property along the Yamfo Gold Trend, two major gold discoveries are currently being drilled. At the Kenyase deposit, Normandy LaSource has reported a resource of approximately 4 million ounces; adjoining Kenyase to the northeast, Moydow Mines has estimated a gold resource of 830,000 ounces at its Ntotoroso project.
For further information on the Yamfo Gold Trend, please see moydow.com (Ntotoroso project) or normandy.com (Kenyase deposit)
GREG HAWKINS ? WORKING HARD TO TURN CRVV INTO THE NEXT NEVSUN RESOURCS
A critical factor in the success of Nevsun Resources (which ran from $1 to $17) was Greg Hawkins, who not only convinced NevSun to acquire its two core assets, but was also instrumental in their subsequent exploration and development.
Greg has over 20 years experience in West Africa, and is considered to be one of the top geologists in that part of the world. He is the reason why Columbia River was able to become one of the first major mining exploration players into Nigeria, and also was responsible for CRVV?s acquisition of the Ayaco property in Ghana.
CRVV IS ACQUIRING A PORTFOLIO OF TANTALUM & GOLD PROPERTIES IN NIGERIA
In April 1999, CRVV became one of the first mineral companies (since British firms in the 1930s) to establish operations to explore for and develop mineral projects in Nigeria. While Nigeria?s oil industry has flourished over the past 40 years, the country?s vast mineral wealth has been virtually ignored and remains largely unexplored.
CRVV has entered into a Letter of Intent with Bakuwa Mining Works Ltd. to explore for and develop tantalite deposits in Nasarawa State; Bakuwa Mining holds mining leases and exclusive prospecting licenses covering 150 square kilometers. A second Letter of Intent with TATCO gives CRVV access to additional tantalum properties plus some intriguing gold plays. Columbia River Resources is negotiating with two other Nigerian companies, and expects to add more tantalum and gold properties to its portfolio.
Regional reconnaissance exploration programs are underway on the Bakuwa and TATCO tantalum properties. Recently announced results indicate several attractive targets for further exploration with the potential to host world class deposits of tantalum and other rare metals. CRVV?s management intends to target tantalum projects with near-term production potential, owing to the metal?s high market prices (US$40 to US$50 per pound), tight supplies, and strong demand (high tech / manufacturing).
COLUMBIA RIVER RESOURCES SHARE STRUCTURE & RECENT TRADING RANGE
Total Shares Outstanding: 12.6 million
Public Float: Est?d @ 2.0 million
1999 Trading Range: US$0.06 (low) by US$0.30 (high)
Last Trade (December 14, 1999): US$0.105
Columbia River?s discussion threads on Silicon Investor and Raging Bull can be accessed at Subject 19098 and
ragingbull.com, respectively.
For more information, please contact:
Bob Ferguson ? President
Phone: (604) 688 - 1163 e-mail: rferg@ColumbiaRiver1.com
Disclaimer ? Please Read
Patagonia Capital Corp. (the ?Publisher?) is not a Registered Investment Advisor or a Broker / Dealer. Readers are advised that this report is issued solely for information purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy. Reproduction of this report, in whole or in part, by any means, electronic or otherwise, including via the Internet, without prior written permission, is strictly prohibited. The Publisher has independently prepared this report, drawing upon a range of public news and information sources, as well as data and opinions provided by Columbia River Resources Inc. (?CRVV? or the ?Company?). Prior to publication of this report, the Company reviewed and approved the contents hereof. The Publisher has not independently verified the Company?s representations. Any opinions expressed in this report are statements of judgment as of the date of publication (14 December 1999) and are subject to change without further notice, and may not necessarily be reprinted in future publications or elsewhere. Neither the Publisher nor its owners, employees or consultants accept any liability whatsoever for any direct or consequential loss arising from any use of this report or its contents. The information contained herein is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. The opinions and analysis included herein are based on sources believed by the Publisher to be reliable and in good faith but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. The foregoing discussion also contains forward-looking statements that are based on current expectations and differences can be expected. The information and opinions contained herein is not intended to be a complete discussion of information regarding some of the current and/or intended business activities of the Company, and all information contained in this report should be independently verified with the Company. Readers are urged to consult with independent financial advisors with respect to an investment in the shares mentioned herein. Investors should review a complete information package on the Company which should include, but not be limited to, the Company's annual report, quarterly report, press releases, as well as all regulatory filings.
In order to be in full compliance with the Securities Act of 1933, Section 17(b), the Publisher advises its readers that it has received a fee of 20,000 common shares of CRVV from Instant Digital Printing as compensation for its efforts in researching, writing and presenting the information contained herein. The Publisher, its owners, employees and consultants may profit in the event the shares of the Company increase in value. These positions may be liquidated from time to time even after Publisher, its owners, employees and consultants have made positive comments regarding the Company. THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. INVESTORS MUST ALSO INDEPENDENTLY VERIFY THE ?BLUE SKY? ELEGIBILITY OF THE SECURITY MENTIONED IN THIS REPORT BEFORE MAKING ANY INVESTMENT DECISIONS. TIMING OF, AND ANY BUYING OR SELLING DECISIONS, ARE THE SOLE RESPONSIBILITY OF THE READER. The Publisher encourages U.S. readers to review the investing information available with the Securities and Exchange Commission ("SEC") at sec.gov and/or the National Association of Securities Dealers ("NASD") at nasdr.com The NASD has published information on how to invest carefully at its website. CRVV is not yet a fully reporting company with the SEC, although it expects to file its Form SB-1 in the near future. At such time as CRVV becomes fully reporting, readers will be able to review CRVV?s public filings (including financial information) at the SEC's EDGAR page freeedgar.com. Until then, Columbia River Resources? financial statements can be viewed at the Company?s website ( columbiariver1.com ). ¸ 1999 Patagonia Capital Corp. PatagoniaCapital@hotmail.com |
