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Microcap & Penny Stocks : paramax resources

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To: Lazarus Long who wrote (243)	10/13/2000 5:20:14 PM
From: Lazarus Long	Read Replies (2) of 246

FOR IMMEDIATE RELEASE PARAMOUNT VENTURES AND FINANCE INC. PARAMAX RESOURCES LTD. PROVIDE UPDATE ON BRAZIL OPERATIONS October 13, 2000 PVF-CDNX PXM-CDNX James Owen, Director of Paramount Ventures and Finance Inc. (“Paramount”) and Paramax Resources Ltd. (“Paramax”) provides the following update on the operations in Mato Grosso, Brazil. Paramount and Paramax are equal partners in the joint venture. The field operator has reported that the main processing plant has been moved to the Rio Pari area and that the plant has started to process gravel material at the site. The Rio Pari area is on higher ground and it is anticipated that operations can continue during the rainy season, which normally starts in December. The Rio Pari area has historically been noted for larger size gem quality diamonds with stones ranging up to 15 carats in size. Stones recovered in the area during bulk testing have ranged in size from 0.35 to 7.0 carats with an average of 1.0 carat. Paramount is a resource company with diamond projects in Ontario, The North West Territories and Brazil. Paramax has oil and gas interests in Texas, offshore Louisiana and British Columbia along with its mineral project in Brazil. “signed” James Owen, Director For further information contact: Investor Relations: David DiRicco Roy Peers, Bob Moxey Tel. 1-888-356-4843 Toll free: 1-800-565-5059 Fax. (650) 367-5071 Tel. (604) 687-1334 Fax. (604) 687-1338 Email: davidjdiricco@worldnet.att.net Email: paramntv@axion.net Website: www.paramountvf.com The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. NR\PVF_PXM_updateOct132000

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