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Gold/Mining/Energy : X-CAL RESOURCES (TSE:XCL)
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To: marcos who wrote (88)9/11/2000 5:12:52 PM
From: John Sladek  Read Replies (1) of 225
 
September 11, 2000 Placer Dome Exclusive at Sleeper

X-CAL RESOURCES LTD ("XCL-T;XCASF-L")

PLACER DOME INC ("PDG-TBHDNPQX")

- Placer Dome Exclusive at Sleeper

X-Cal Resources Ltd. and Placer Dome US have entered into an Exclusivity Agreement relating to the Sleeper Gold Project located in Humboldt County, Nevada.

The Agreement grants Placer a right to negotiate an exploration/development agreement with X-Cal for the Sleeper Gold Project within specific time limits. During the period of exclusivity a new 3D model of the Sleeper mine site area will be produced utilizing both the facilities of Placer Dome and X-Cal. The right that has been granted to Placer is to facilitate a complete data exchange between the companies and to allow Placer a limited time to capitalize on their contribution to the project, prior to X-Cal resuming free agent status.

The delivery date for the new data sets to both companies is scheduled for October 10, 2000. The Placer exclusive will end on October 20, 2000. Placer also has the option of extending their right up to November 10, 2000 by making cash payments to X-Cal totaling US$100,000.

Both companies will have uninhibited use of the product of the exchange for their own purposes both during and after the period of exclusivity. Placer has acknowledged that X-Cal is preparing for other forms of project financing concurrent with the period of exclusivity and that nothing in the agreement will prevent X-Cal from continuing with these activities.
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