Tan Range Message Board - Msg: 14669057

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Gold/Mining/Energy : Tan Range

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To: jim who wrote (116)	10/26/2000 4:44:14 PM
From: BLZBub	Read Replies (1) of 122

Tan Range announces Barrick completes third tranche placement for $1.0 million at $1.00 per share Canadian Venture Exchange Symbol: TNX VANCOUVER, Oct. 26 /CNW/ - Tan Range Exploration Corporation is pleased to announce that Barrick Gold Corporation has completed a $1.0 million share placement in Tan Range as part of its ongoing joint venture agreement. Under the terms of the placement Barrick has purchased 1,000,000 shares at $1.00 per share. Eighty percent of the private placement funds will be spent exploring at the Itetemia Project in northwestern Tanzania. Outlook and Future Plans Tan Range has recently announced further diamond drilling success at the Golden Horseshoe Reef; the deposit has been drilled to a vertical depth of 300 meters and remains open. Follow up drilling will test the mineralization below the 500m level. The company also reported the discovery of gold mineralization in a separate 3.2 km long geophysical conductor. This is considered significant as the intercept has many direct comparisons to the parallel Bulyanhulu gold deposit on the adjoining property operated by Barrick Gold Corporation. The next phase will test the target every 400m, along strike. The continued financial support from Barrick provides the necessary funds to conduct further diamond drilling on both of these targets. Additional Information For more detail on the Itetemia property, please visit our website at www.tanrange.com TAN RANGE EXPLORATION CORPORATION "Marek Kreczmer" MAREK J. KRECZMER, M.Sc., P.Eng., P.Geo. President and Chief Executive Officer The Canadian Venture Exchange has neither approved nor disapproved of the information contained herein. www.tanrange.com -30- For further information: Investor Relations at 1-800-811-3855; Visit the Tan Range website: www.tanrange.com To request a free copy of this organization's annual report, please go to www.newswire.ca and click on reports@cnw.

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