CALDERA RESOURCES INC.
Canada
105 Adelaide Street West
Suite 904
Toronto, Ontario, M5H 1P9
Telephone: 416-260-9810 ext. 1
Facsimile: 416-865-9550
Website: www.calderares.com
Australia
1 Charles Street
Suite 8
South Perth, Western Australia, 6151
Telephone: 011-6189-367-7728
Facsimile: 011-6189-367-7705
E-mail: caldera@wantree.com.au
___________________________________________________________________________________
PRESS RELEASE
FOR IMMEDIATE RELEASE
TSE Symbol "CDR"
Cusip: 1287D 105
Date: February 15, 2000
South Perth, Western Australia
SOUTHERNERA RESOURCES PRIVATE PLACEMENT
Caldera Resources Inc. wishes to announce that SouthernEra Resources Ltd. (TSE: SUF) has agreed to complete a private placement of 800,000 shares in Caldera at an issue price of C$0.30 per share for gross proceeds of C$240,000, subject to regulatory approval. In addition, Caldera has granted SouthernEra an option to acquire additional shares in Caldera in a cash private placement of up to C$300,000 at any time until October 20, 2002. The issue price will be determined by the market price at the time less the maximum discount as permitted by The Toronto Stock Exchange.
Caldera and SouthernEra have also agreed to vary the terms of their Western Australian joint venture agreement and to include additional exploration licences now held by Caldera in its own right, subject to regulatory approval. The joint venture now includes tenements with an aggregate area of approximately 1100 square kilometres. Under the variation to the joint venture terms, SouthernEra will be required to spend C$1 million dollars to earn a 51% interest in all joint venture tenements. SouthernEra may then spend a further C$4 million to earn an additional 9% interest. Under the previous terms, SouthernEra may have earned a 65% interest by expending C$5 million on jointly acquired tenements.
SouthernEra is a diamond explorer with projects in North America, South America and Africa, and is a significant producer of diamonds in South Africa. Caldera is pleased that SouthernEra has chosen to become a significant shareholder in our company. The board of Caldera regards this as an indication of confidence that SouthernEra has in the future of Caldera and its Western Australia diamond exploration projects.
Caldera is engaged in diamond exploration in Australia through eight projects. The Company has six projects located in the Pilbara region of northeastern Western Australia, and two projects located in northern South Australia, which are known as the Abminga Projects. In addition to the joint venture in Western Australia with SothernEra, Caldera has two joint ventures with Stockdale Prospecting Limited, the Australian subsidiary of DeBeers, on two of its Western Australian projects, the Gunanya Exploration Area and the Tabletop East project. Through the two Abminga Projects, Caldera is the major tenement holder in the region.
For further information please contact:
Chris Reindler, Telephone: 011-6189-367-7728
President Facsimile: 011-6189-367-7705
Jason Shepherd, Telephone: 250-717-1910
Investor Relations Facsimile: 520-569-5645
E-mail: creativecap@home.com |
