From: newsout@canada-stockwatch.com
Date: Thu, 22 May 1997 14:28:33 -0700
Subject: Stockwatch: New Claymore Resources Ltd - News Release
To: ajanko@erinet.com
Lucero to acquire interest Buffalo Hills/Peace River permits from New
Claymore
New Claymore Resources Ltd NCS
Shares issued 4,015,775 May 21 close $2.20
Thu 22 May 97 News Release
See Lucero Resource Corp (LCR) News Release
Mr Jonathan George reports
Lucero has entered into two agreements with New Claymore to acquire a 50%
interest in metallic mineral exploration permits in the Buffalo Hills/Peace
River area of Alberta.
The first agreement applies to permits covering 230,000 acres. Terms of
this option are:
Paying to New Claymore $50,000 on execution of this agreement;
Issuing 50,000 shares of Lucero to New Claymore immediately upon acceptance
of the VSE to this agreement;
Paying to New Claymore $50,000 on or before November 30 1997;
Issuing 150,000 shares of Lucero to New Claymore upon acceptance by the VSE
of a geological report recommending further work on the claims, which
issuance is to be made on or before December 31 1997;
Advancing to New Claymore for exploration on the claims $1.50 per acre on
or before May 21 1998 and $2.50 per acre on or before May 21 1999.
An airborne geophysical survey will commence on these permits immediately.
The second agreement applies to permits covering 160,000 acres. Terms of
this option are:
Paying to New Claymore $125,000 on execution of this agreement;
Issuing 50,000 shares of Lucero to New Claymore immediately upon acceptance
of the VSE to this agreement;
Paying to New Claymore $100,000 and issuing 150,000 shares of Lucero to New
Claymore upon acceptance by the VSE of a geological report recommending
further work on the claims, which payment and issuance is to be made on or
before December 31 1997;
Advancing to New Claymore for exploration on the claims $1.50 per acre on
or before May 21 1998 and $2.50 per acre on or before May 21 1999.
An airborne geophysical survey has recently been completed on the 160,000
permit area and preliminary data is expected shortly.
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