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Gold/Mining/Energy : Redfern Resources One to Watch?? T.RFR

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To: zinc-man who wrote ()	6/20/2000 8:00:00 PM
From: zinc-man	Read Replies (1) of 36

<<<<Company Press Release>>> Monday June 19, 2:24 pm Eastern Time Company Press Release Redfern Resources Ltd.: Canadian Proposals Address US Concerns on Tulsequah Chief Mine VANCOUVER, BRITISH COLUMBIA--Representatives of the US, Alaska, Canada and British Columbia met in Vancouver last week to review Canadian responses to stated US concerns on the potential for impacts to US interests resulting from the proposed development of the Tulsequah project. Canada and BC disagree with any need for a referral to the International Joint Commission and have instead proposed an alternative bilateral consultation process to resolve the American concerns. At the conclusion of the meetings, on June 16, the BC government issued a press release which outlined the Canadian position and progress made towards reaching agreement on resolving remaining issues. The recommended process includes establishment of an environmental cooperation accord between BC and Alaska similar to an existing accord between BC and Washington State. US and Alaska officials are studying these proposals which would afford the US increased consultation representation on a variety of transboundary matters along the common border. BC officials indicated that the meetings were cordial and positive in many respects. Contrary to an article published in the Globe and Mail newspaper on June 13, no ``ultimatum'' was issued by the US concerning the Tulsequah project and the US did not indicate any intent to proceed with a unilateral reference to the IJC. Canada and BC informed the US that they have legally approved the project to proceed and operating and construction permit applications are in progress. The Company continues to meet its obligations under the Project Approval Certificate and is generating the necessary technical information to meet the various permit and design requirements. This information demonstrate the project's ability to proceed safely, in a sound environmental manner and without significant transboundary effect. The Company feels the Canadian proposals to resolve US concerns are reasonable, comprehensive, and do not in any way impair the project's ability to proceed. The text of the BC government press release is available on the internet at: em.gov.bc.ca 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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