MARUM RESOURCES ON ALBERTA Message Board

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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA

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To: Robert Dydo who wrote (9)	6/10/1997 10:33:00 PM
From: Richard A. Boulay	of 2514

Robert - Reply to your questions of message #9 We have completed our due diligence work on the Arizona (not Nevada) property and are scheduled to sign the final documents this week. I've just returned from Arizona with more surface samples and they confirm our earlier positive results. Hope to begin field work in 2 to 3 weeks. Re: the Ironcap project, we have a agent in Korea now on his seventh trip to speak to the steel companies. The political situation there is confused and no decisions are being made at this time. If we lock in a JV partner we would expect a very respectable cash injection into the company. The Bre-X fiasco delayed our spring financing plans and knocked our stock price down. We have very little cash in the treasury but we are carrying on operations by raising money from directors who are exercising warrants and options. As to expected results, we expect a more or less continuous stream of news from the Quebec and Alberta diamond projects, as well as the Arizona gold project over the next three to six months. Regards Rick Boulay, President Marum Resources Inc. boulay@canuck.com Tel: 403-264-2220

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