Lets take U S $500,000 cash and 2 million Shares for 20% of
Atlanta. they got money now and Diamonds.
they want to be a big deal at Atlanta, so now is their chance.
this is me, going down the RR tracks, Hoping for some Diamonds, Higher gold price.
##########################################################
Twin Gold, in addition to exploring the diamond prospect on the east side of the Ungava Bay in
Northern Quebec is also an emerging producer of a low cost gold mining project of 1 million ounces of
gold and 3.2 million ounces of silver reserves in Idaho, U.S.A. TEL: (416) 777-0013 Hermann Derbuch,
P.Eng., Chairman,
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
TWIN GOLD CORPORATION ("TWG-T") - Positive 1999 Year End Results for Twin Gold
Twin Gold Corporation (the "Company") is pleased to announce its 1999 year end results and
progress.
During 1999, the Company moved into diamonds by acquiring a 100% interest in 444sq km of
diamond claims covered by four (4) mine exploration permits and has already discovered 475 high
quality diamonds, mostly white and transparent, of which 80 are macro diamonds as determined by
Lakefield Research.
The financial position of the Company also improved progressively during the year with an aggregate of
$3,250,000 having been raised. At year end, the Company received gross proceeds of approximately
$2,223,000 from a private offering of special warrants through a syndicate led by Dundee Securities
Corporation and including National Bank Financial Corp. Current assets at year end stood at
$2,314,769 with a cash component of $2,287,064, enabling the Company to carry out its planned
diamond exploration program. Comparable figures for 1998 year end were $390,907 and $300,025,
respectively. Strict cost control measures and staff reductions resulted in a reduction of general and
administrative expenses by 33% for the year compared to 1998.
As a result of the growth of the Company and its diversification into diamonds, the Company is
pleased to further announce that it will seek shareholder approval at its Annual General Meeting slated
for March 15, 2000 for a change of its name to: TWIN MINING CORPORATION
and to increase the number of members on the Board of Directors from four to five and to elect Mr.
James K Gray, O.C., Chairman, Canadian Hunter Exploration Ltd., to the Board. Mr. Gray brings to
the Company a wealth of experience, from co-founding to developing one of Canada's larger natural
gas producers.
Twin Gold, in addition to exploring the diamond prospect on the east side of the Ungava Bay in
Northern Quebec is also an emerging producer of a low cost gold mining project of 1 million ounces of
gold and 3.2 million ounces of silver reserves in Idaho, U.S.A. TEL: (416) 777-0013 Hermann Derbuch,
P.Eng., Chairman, FAX: (416) 777-0014 President & CEO Twin Gold Corporation Internet:
www.twingold.com Email: info@twingold.com |
