Major General--MGJ Message Board

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Gold/Mining/Energy : Major General--MGJ

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To: sana who wrote ()	2/10/2000 5:13:00 PM
From: Brian Fowler	of 1707

IT'S OFFICIAL........ Ascot/Major General project not renewed by Monopros Major General Resources Ltd MGJ Shares issued 41,742,995 Feb 9 close $0.14 Thu 10 Feb 2000 News Release See Ascot Resources Ltd (AOT) News Release Mr. Ken Carter reports Ascot Resources and Major General Resources report that Monopros has not renewed the third year option on the Victoria Island diamond project. Over the past two years, Monopros expended $1.265-million on project work and made payments totalling $50,000 to the vendors. Its exploration efforts resulted in the discovery of several diamondiferous kimberlite pipes and extensive dykes on the optioned properties. Under the terms of the agreement, Monopros would have been obligated to expend a further $735,000 on project work in 2000 and make payments totalling $150,000 to the vendors to vest at 51 per cent by Feb. 1, 2001. All laboratory results have now been received by the partners, however Monopros is still in possession of detailed technical data, including some interpretative information, remaining kimberlite drill core and diamonds recovered from processing. The partners will be able to formulate their future exploration plans for the project once all technical data has been fully reviewed. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com LOOKS LIKE THE STEEL RIVER PROPERTY IS GOING TO BE THEIR ONLY REAL HOPE THIS YEAR BOYS!

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