HADDINGTON INTERNATIONAL RESOURCES LIMITED
Unit 6, 18 Harvest Terrace
West Perth WA 6005 Australia
Telephone: +61 8 9226 1550 Facsimile: +61 8 9226 1551
Email haddington@bigpond.com
Website www.haddingtonintl.com
(TRADING SYMBOL CDNX:HDN)
NEWS RELEASE
June 16, 2000
AGREEMENT REACHED FOR ACQUISITION OF TANTALITE EXPLORATION AREAS - AUSTRALIA
Haddington International Resources is pleased to announce that it has reached agreement for acquisition of a 100% interest in two exploration license that are immediately adjacent to its Bald Hill Tantalite Project in Western Australia.
The license areas cover approximately 185 km2 to the north east and surrounding the tenements covered by Haddington?s recently announced agreement with Australian mining company Sons of Gwalia Limited.
The Company will pay A$20,000 in cash and issue 800,000 fully paid common shares at $0.20 each to acquire a 100% interest in the exploration licenses. The acquisition is subject to CDNX approval and the formalisation of the Company?s agreement with Sons of Gwalia Limited.
The Company sees this acquisition as an important adjunct to its development agreement with Sons of Gwalia Limited. Preliminary independent evaluation of existing data indicates significant potential for discovery of tantalite bearing pegmatites in the license areas.
Tantalite is the ore from which the metal tantalum is produced. Recent growth in the electronics industry has driven strong demand for tantalum.
Tantalum is a strategic metal with very high corrosive resistance, high melting point and unique electronic properties. Major uses of tantalum include the manufacture of capacitors in electronic applications such as mobile telephones and computers, in super alloys with nickel and cobalt for the aerospace industry, in specialty metal products for the chemical industry and in metal carbide for metal working tools.
ON BEHALF OF THE BOARD OF DIRECTORS OF
HADDINGTON INTERNATIONAL RESOURCES LIMITED.
?Colin McCavana?
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Colin McCavana
President & CEO
Enquiries to Colin McCavana, Haddington International Resources Limited, Perth, Australia
Phone +618 9226 1550
Fax + 618 9226 1551
Email haddington@bigpond.com
The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
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John Tarrant
Unit 6, 18 Harvest Tce
West Perth WA 6005
Australia
Phone +61 8 9226 1550
Fax +61 8 9322 9003
Mobile 0414 725 622
john.tarrant@bigpond.com |
