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Gold/Mining/Energy : Ameridex Minerals Corp (AMD was NRV)
AMD 257.97-0.7%Oct 28 3:59 PM EDT
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To: Investors Page who wrote (11)5/28/1997 7:13:00 PM
From: Darryl Kadonaga   of 37
 
Navarre Resources Press Release - Interest to be acquired in BC claim blocks

Navarre Resources Corporation NRV
Shares issued 11,138,699 May 26 close $0.19
Wed 28 May 97 News Release
Also Rhyme Industries Inc (RHM)
Mr M. Dean Webb reports

An option to acquire a 50% interest in five separated claim blocks in the
Cry Lake-Gataga region of BC has been entered into with the Hunter Group of
Companies. This agreement calls for a cash payment of $12,500 by June 1
1997 and the placement in trust of $50,000 to cover its 50% share of costs
for a geochemical sampling program to be conducted by the Hunter Group on
the properties. At the end of this program, and on or before November 1
1997 the company will have the right, subject to a 2% nsr, to acquire a 50%
working interest in any or all of the five claim groups by further payment
of $10,000 and by issue issuing 100,000 shares for each claim group
retained.

The claim areas selected were acquired by Hunter based on results released
in 1996 of a regional geochemical survey conducted by the BC Geological
Survey Branch. The Hunter Group acquired 350 claim units covering five
distinctive areas of the RGS release and believes that the majority of the
top ranked base and precious metal anomalies found in the survey are
covered by the five claim groups. Target models include volcanogenic
massive sulphides (VMS), sedimentary exhalative (SEDEX), mesothermal gold,
carbonate hosted skarn/manto type and porphyry copper gold.
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