Columbia River Resources - CRVV on OTC NASDAQ Message Board

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Gold/Mining/Energy : Columbia River Resources - CRVV on OTC NASDAQ

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To: Aduke who wrote (276)	7/30/2001 1:27:10 PM
From: Jim Bishop	Read Replies (1) of 280

Columbia River To Acquire Strategic Metals Limited Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--July 30, 2001--Columbia River Resources Inc. (CRVV - Pink Sheets) is pleased to announce that it has entered into a stock purchase agreement to acquire 99.98% of the issued and outstanding shares of Strategic Metals Limited from CME & Company for US$25,000. Strategic Metals is a limited company incorporated in the Federal Republic of Nigeria and will be Columbia River's operating subsidiary in Western Africa. The purchase price payable by the Company for the Strategic Metals stock is being held in escrow pending the closing of the transaction, which is conditional on the Company entering into a consulting agreement with CME & Company. Under the consulting agreement, CME & Company will be engaged to provide project management services to Strategic Metals in Western Africa and will receive a 1% Net Smelter Royalty on any projects introduced to Columbia River by CME & Company. It is anticipated that the acquisition will be completed within the next week. "The acquisition of our controlling stake in Strategic Metals Limited will be a very important step in the development of Columbia River and its mandate to explore for and develop rare earth projects in Western Africa" stated Columbia River's President Robert Ferguson. ON BEHALF OF COLUMBIA RIVER RESOURCES INC. Robert Ferguson, President For further information visit our website at www.columbiariver1.com or contact us by telephone at (604) 688-1163 --30--kms/cgo* CONTACT: Columbia River Resources Inc. Robert Ferguson, 604/688-1163 KEYWORD: NIGERIA INTERNATIONAL AFRICA/MIDDLE EAST CANADA INDUSTRY KEYWORD: MINING/METALS MERGERS/ACQ Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *

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