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Gold/Mining/Energy : Redfern Resources One to Watch?? T.RFR
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To: zinc-man who wrote ()2/29/2000 4:25:00 PM
From: zinc-man  Read Replies (1) of 36
 
Great News.... Here we go!

Redfern Resources Announces Proposed Corporate Reorganization

VANCOUVER, BRITISH COLUMBIA--At its annual meeting, scheduled for June, 2000, the Company will propose a
corporate reorganization. Under a statutory plan of arrangement (the ``Arrangement'), the shareholders of the Company would exchange their shares on a
one-for-one basis with a new company (``Newco'). Effective upon the restructuring, Newco would be publicly listed. The existing listed company would become a
wholly owned subsidiary of Newco, would retain all of its presently held assets and would focus exclusively on aggressive development of the Tulsequah Chief
Project. Newco would finance the subsidiary's operations and would independently pursue new opportunities to enhance shareholder value.

The Arrangement is subject to shareholder, regulatory and court approval. Complete details of the proposed reorganization will be set forth in the management
information circular for the annual general meeting.

Meanwhile, the Board has directed management to prepare plans for an aggressive drilling program to expand the existing resource and reserves at the Tulsequah
Chief Mine and further add to the Project's positive economics. The Company is also proceeding unimpeded to acquire all necessary operating permits for the
access road and mine site.

REDFERN RESOURCES LTD.

Terence E. Chandler, President

Contact:

Redfern Resources Ltd.
Terence E. Chandler
President
(604) 669-4775
(604) 669-5330
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