Birch Mountain Resources Ltd.
CALGARY, Jan. 6 /CNW/ - Birch Mountain Resources Ltd. (BMD:CDNX) reports
that it has entered into an agreement with Tintina Mines Limited and NSR
Resources Inc. to acquire 100 per cent undivided interest in two Metallic and
Industrial Mineral Leases known as ``the Fort MacKay property' located in the
Athabasca region of northeastern Alberta. The property consists of 1,991
hectares held under fifteen-year leases issued in 1994. Consideration for the
Fort MacKay property acquisition is 600,000 common shares of Birch Mountain
Resources Ltd. Doug Rowe, President and CEO, states, ``We look forward to
integrating the Fort MacKay property into our ongoing Athabasca exploration
program. It lies within the core area of our Athabasca permits and exhibits
geological, geochemical and mineralogical characteristics consistent with our
Prairie Gold precious metal targets.' The transaction is subject to
regulatory approval.
Doug Rowe goes on to say ``We are pleased to end 1999 as the top
performing stock of John Kaiser's 1999 bottom-fishing picks.' John Kaiser is
a well respected industry analyst and author of the Bottom-Fishing Report.
Birch Mountain continues to progress towards its goals of developing and
verifying gold-PGM assay and recovery procedures and establishing a precious
metals resource in Athabasca.
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00003909E
-30-
For further information: Douglas Rowe, President and CEO, or Jane
Quinn, Shareholder Services, rowed@birchmountain.com or
jquinn@birchmountain.com, Birch Mountain Resources Ltd., Tel 403.262.1838,
Fax 403.263.9888, Internet Home Page: birchmountain.com
To request a free copy of this organization's annual report please go to
www.newswire.ca and click on reports@cnw. |
