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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY
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To: Just G who wrote (175)3/28/2000 10:23:00 AM
From: Just G  Read Replies (1) of 349
 













Canadian Company Press Release


Anaconda Uranium Announces Agreement With Aquiline Resources For The River Valley Exploration Project

TORONTO, ONTARIO--Anaconda Uranium Corporation (CDNX : ANU) is
pleased to announce that it has reached agreement with Aquiline
Resources Inc (CDNX : AQI) for Aquiline to take over the 3 claim
blocks acquired by Anaconda, in the River Valley area of the
Sudbury mining District of Ontario (see press release of February
29, 2000).

In terms of the Agreement, Aquiline will pay $50,000 to Anaconda;
$10,000 of this has already been paid. Aquiline will also issue
150,000 shares to Anaconda as soon as the transaction has been
approved by CDNX. A further 150,000 Aquiline shares will be
issued to Anaconda on completion of a pre-feasibility study.

Aquiline has built up a large position in prospective PGM
exploration ground in the River Valley area and has assembled the
resources for further exploration. With this wider exploration
exposure any benefit to Anaconda will flow more quickly than by
proceeding with exploration on its own.

Anaconda will continue to pursue its uranium business but may take
advantage of other resource or non-resource related opportunities
that may arise. Several approaches have been made to Anaconda in
recent months with a view to utilising the Company as a technology
related vehicle. No agreements have been reached but the Company
will continue to examine such alternatives.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

John Cook
President
(416) 864-1012
facsimile (416) 864-1369
E mail jfcook@concentric.net
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