MAJOR GENERAL ANNOUNCES
1550 - 409 Granville Street
Vancouver, B.C. V6C 1T2
Tel. (604) 685-5254
Fax: (604) 685-2814
Date: March 2, 2000
Trading Symbol (CDNX-M GJ)
Shares Issued: 41,742,995
News Release
00-04
SALE OF HAMMERDOWN/RUMBULLION GOLD DEPOSIT COMPLETED
The sale of Major General's Hammerdown/Rumbullion Gold Deposit to Abiting Inc. has been completed. Abiting has paid $3,400,000 in cash for the Deposit located in the Springdale-King's Point mining district of Newfoundland and will pay a further $600,000 at the rate of $10 per ounce of gold produced in excess of 70,000 ounces to 130,000 ounces. After 200,000 ounces of production Major General will receive $20 per ounce provided the price of gold exceeds US $290 per ounce.
Additionally, Abiting has agreed to purchase all of the third party royalty interests and to cancel these royalties and back-in rights on that portion of the Rendell-Jackman mineral claims retained by Major General outside that portion of the Hammerdown/Rumbullion Gold Deposit.
The Rendell-Jackman claims include the Lochinvar Base Metal Deposit containing 570,000 tonnes of 7% Zn equivalent as well as 3 kilometers of the Hammerdown deformation zone which has demonstrated gold potential. Two kilometers southwest of the Hammerdown Deposit, Major General owns a 100% interest in the Orion Gold Deposit which has been partially drilled and contains a resource of 60,000 ounces of gold to a 300 metre depth. Major General will continue to explore its Newfoundland holdings for both gold and base metals.
William J. Coulter
President
For further information, please call:
Major General Resources Ltd.
Telephone: (604) 685-5254
1-800-667-7866
majorgeneral.com
Email: info@majorgeneral.com
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