Tandem Resources (TDM in Montreal) Message Board

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Gold/Mining/Energy : Tandem Resources (TDM in Montreal)

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To: rdww who wrote (108)	10/3/2000 10:26:24 AM
From: Michel Lafrance	Read Replies (1) of 132

News Release - October 3rd, 2000 08:30 EDT Tandem Resources Reports More Diamonds Tandem Resources Ltd. ("Tandem") reports that more diamonds have been found on a kimberlite dike in which a diamond discovery was reported last week (see News Release dated September 28th, 2000). The location is near Abloviak Fiord on the east coast of Ungava Bay. A small sample (25 kilograms) yielded two larger stones (macrodiamonds) about one kilometre south of the first discovery site reported about a week ago. The first discovery site reported last week yielded 8 diamonds two of which were larger stones (macrodiamonds) in a small sample of about 30 kilograms. All analyses have been carried-out by Lakefield Laboratories. The kimberlite dike on which the discoveries have been made, has been traced for six kilometres or over 3.5 miles and is about 2.0 metres wide. Numerous samples have been gathered from a number of locations other than the discovery dike and results from these will be announced at intervals during the next few months. Further samples have also been taken from the discovery dike. Tandem's interest in the subject area where the diamonds have been found is as follows: Tandem may acquire a 40% interest in 470 km² in and around Abloviak Fiord, after $5.0 million has been spent by an American company, Diamond Discoveries International, which is shortly to go public in the United States. To acquire the 40% interest, Tandem must pay $2.0 million or 40% of the costs incurred by Diamond Discoveries. After Diamond Discoveries has expended $5.0 million, Tandem has sixty (60) days to raise the funds. Tandem has also given Diamond Discoveries the exclusive right for a short time (21 days) to finance Tandem's $2.0 million cost. These agreements are subject to the approval of the appropriate regulatory authorities. Website: tandem-resources.com Stockhouse Discussion Group: stockhouse.ca

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