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Re: News Release - Friday, June 16, 2000
Agreements Entered
The Board of Directors of International Wayside Gold Mines Ltd. (the
"Company") announces that the Company has entered into the following
agreements to acquire further property interests in the Cariboo Mining
District of British Columbia:
(a) Agreement dated April 20, 200, the Company agreed to acquire a 100%
interest in the Placer Claims- Sasha 1, 2,4,5,6,7, and Clubs 1 & 2, Mineral
Claims-Raven 1-6, and five Placer Leases from Melvin Lee Zeiler for and in
consideration of the issuance of 20,000 common shares of the Company on
receipt of Canadian Venture Exchange ("CDNX) acceptance of the agreement;
(b) Agreement dated May 1, 2000, Grand Lowhee Mining Co. Ltd. of
Vancouver, B.C. agreed to sell a 100% right title and interest in Crown
Grants 2F Blackbull and 42F Canusa for the sum of $217,500 of which $20,000
was paid on execution of the agreement and the remainder was paid on
notification from the solicitor of Grand Lowhee Mining Co. Ltd. that a
Certificate of Pending Litigation registered against the property had been
lifted from the property title. The Company has held the undersurface
rights to these two crown grants for a number of years.
(c) Agreement dated May 26, 2000, the Company agreed to acquire a 100%
interest in the Oro Fina Placer Claim from Mike Collins of Quesnel, B.C.
for an in consideration of the payment of $5,000 on signing of the
agreement and the issuance of 5,000 shares of the Company on receipt of
CDNX acceptance of the agreement;
(d) Agreement dated May 26, 2000, the Company agreed to acquire a 100%
interest in the RTC 1-34 mineral claims, the IPO 1-24 mineral claims and
the HAM 20-35 and 52-72 mineral claims from Tim Young and Sam Skiber, both
of Vancouver, B.C. who staked these claims. Consideration for the 100%
interest in the claims consists of a cash payment $10,000 on execution of
the Agreement and the issuance of 100,000 shares of the Company (as to 50%
to each vendor) on receipt of CDNX acceptance of this agreement.
(e) Agreement dated June 14, 2000, Donald Best and Associates (the
"Vendors") of Vancouver, B.C. agreed to sell a 100% interest in 13 mineral
claims, namely the Wing 4 - 9 and Wing 12 - 17 mineral claims to the
Company for payment of $10,000 on execution of the property agreement and
the issuances of a total of 75,000 shares of the Company on receipt of CDNX
acceptance of this agreement;
These acquisitions further consolidate the Company's ground in the historic
Wells, Barkerville area of British Columbia. All of the vendors are at
arm's length to the Company.
In addition to the mineral property acquisitions, the Company has acquired
office property in Wells, B.C. located at 2422 Barkerville Highway from
Kenneth and Dianne Pollock of Wells, B.C. (the "Vendors") for $92,500, of
which the Vendors have taken back a mortgage for $70,000, bearing interest
at the rate of 8% per annum, calculated yearly. Mr. Pollock is, from time
to time, employed by Standard Drilling & Engineering Ltd. as an equipment
operator on the Company's Cariboo Gold Project. The Company has maintained
an office in these premises since 1997.
The Directors also wish to announce the following share issuances as
consideration for property options and/or purchases previously announced by
the Company:
Date of Issued Reason for No of Expiry of
Issuance To Issuance Shares Issued Hold Period
May 11th Abitibi
Mining 50% interest in
Corporation Wolf Property 25,000 Sept.11/2000
May 26 John Bot 100% of mineral
claims tenures
375059-375063 15,000 Sept.26/2000
Steve Kocics finder's fee
for above 1,500 Sept.26/2000
May 26 Gold City 75% interest
Industries in Myrtle
& Proserpine
Claims 100,000 Sept.26/2000
June 1 Melvin L. Dawson & Mable
Zeiler Lots Tenures
204931 & 204930 10,000 Aug.11/2000
June 1 Evan 75% interest
Williams in Downey 1
2 claims,
Tom 1-7, 19,
35,48,60,67,
70 & 72 claims
and Martins
Claim 38,000 Aug.20/2000
June 1 Douglas W. vendor with
Merrick Williams on
above claims 38,000 Aug.20/2000
June 7 Gold City 75% interest
Industries in the
Promise Claims 25,000 July 17/2000
Refer to the attached map for particulars of the Company's mineral property
holdings and options to date in the Cariboo Mining District of British
Columbia.
Associated Map: wayside-gold.com
51 KB in size, approx. 29 seconds to download at 28.8Kbs
The issuance of shares to Gold City Industries Ltd. ("Gold City") has
received the acceptance of the Canadian Venture Exchange and is in
compliance with the Company's agreements with Gold City. Gold City has
attempted to refute the existence of binding agreements. The Company will
take all legal steps necessary to ensure Gold City's compliance with the
agreements.
On Behalf Of The Board Of Directors
J. Frank Callaghan,
Director
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Copyright (c) 2000 INTL. WAYSIDE GOLD MINES LTD. (IWA) All rights
reserved. For more information visit our website at
wayside-gold.com or send mailto:info@wayside-gold.com
Message sent on Mon Jun 19, 2000 at 12:24:24 PM Pacific Time |
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