Big Valley Resources (BV-ASE) Message Board

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Gold/Mining/Energy : Big Valley Resources (BV-ASE)

BV 12.81

-0.5%

12:45 PM EST

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To: bcjt who wrote (217)	10/27/2000 9:10:09 AM
From: bcjt	of 231

Big Valley Resources Inc.: Financing Arranged VANCOUVER, BRITISH COLUMBIA--The Board of Directors of Big Valley Resources Inc. ("The Company") is pleased to announce that it has completed the financing as was reported on the August 16, 2000 News Release. The total financing of $10,500,000 CDN was arranged by an arm's length third party, 568674 British Columbia Ltd. in the following manner. Phase One was completed for 5.5 million for the purchase of the QR Gold Mine properties and other assets from Kinross Gold Corporation. A firm commitment letter on Phase Two is now completed for 5 million dollars CDN. Phase Two will cover bonding, exploration and mill and mining start-up cost. The Company also announces that it has planned an aggressive exploration program on Lloyd mineral claims as well as the newly acquired QR Property. Initial work will consist of a helicopter-born five frequency, electromagnetic and high sensitivity magnetic survey. This will be followed by a diamond drill program on selected drill targets. The Company anticipates all funding to be in place within 45 days. In order to start the exploration program immediately, The Company is considering a private placement offering. Big Valley's Board would like to thank all it's shareholders for their patience on this awaited news. ON BEHALF OF THE BOARD John Enns, Director The Canadian Venture Exchange has neither approved nor disapproved the information contained herein. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Big Valley Resources Inc. John Enns Director (604) 824-2122 or (250) 243-2279 Website: www.bigvalleyres.com The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.

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