if WALS is not on the list I would like to add it. Today's news says it is not a gem, rather, an EMERALD. hehhee
WALS' Client Esmeralda Exploration Options 11.4 Acres of Emeral
WALS' Client Esmeralda Exploration Options 11.4 Acres of Emerald Producing
Property
Business Editors
LIGHTHOUSE POINT, Fla.--(BUSINESS WIRE)--Feb. 13, 2002--Lighthouse
Point, Florida. Wallstreet-Review, Inc. (OTCBB:WALS), a Florida
corporation, today announced that its client, Esmeralda Exploration
International, Inc. (Esmeralda) has optioned to purchase an additional
11.46 acres of the Rist Mine in Hiddenite, North Carolina.
The "Wooten/Rutledge" portion of the Rist Mine historically has
produced various sizes of emeralds ranging up to 1,200 carats,
including the famous 13.4-carat "Carolina Emerald" worth approximately
$500,000. Esmeralda, a mineral exploration company, is seeking to
become the premier emerald producer in North America. It is being
brought public through reverse merger by WALS, which will retain a 40
percent equity position in the company. Up to 80 percent of WALS'
equity in Esmeralda will be distributed to WALS' shareholders.
The property is approximately one-quarter mile from the portion of
the Rist Mine where discoveries of more than 3,000 carats of emeralds
have made world headlines since 1998. Esmeralda owns and is currently
excavating 2.46 acres adjacent to this property that is within
approximately 50 feet of the discovery zone where last month two other
large emeralds totaling over 140 carats were discovered. Renowned
gemologist Antoinette Matlins has described this latest emerald
discovery as "unquestionably the most important gemological discovery
in the country, and maybe the most important in the entire world."
Gilbert Wooten, one of the 11.46 acre mine's partners, said nearly
1,000 emeralds have been discovered at his site since he and Jack
Rutledge began mining the property in 1994. The largest emeralds
discovered by Wooten/Rutledge were 175 and 93 carats. Wooten said
approximately 90 percent of the property remains to be explored.
"We really haven't dug that much - just one hole nearly an acre in
size down to about 70 feet where we found 40 emerald veins that
produced about one thousand emeralds," Wooten said, noting that 12
exploratory test trenches have also been dug at the site. "There are
real promising areas on the property revealing the proper geology for
emeralds."
Ron Stewart, Esmeralda president, said he is "very excited and
fortunate" to have optioned the property.
"The Wooten/Rutledge property is a known and famous mineral
locality in the scientific community that has produced very fine
emeralds in the past," he said, noting the temperate winter has
allowed Esmeralda to resume exploration at its 2.46-acre site sooner
than anticipated.
"We are very encouraged with what we are finding in terms of vein
structures that need to be explored," he said. "This is a very
hands-on type of operation. There are no shortcuts."
Emeralds are among the rarest and most expensive of the colored
stones which can bring up to $63,000 per carat, dependant on their
quality, size, color and clarity.
Wallstreet-Review, Inc. (WALS) is a corporate financial services
company that assists emerging companies in moving from the private
sector to the public markets. WALS has declared two shareholder
dividends within the past nine months.
For more information on Esmeralda, visit its website at:
esmeraldaex.com
Statements in this news release that are not descriptions of
historical facts are forward-looking statements that are subject to
risks and uncertainties. Words such as "expect," "intends,"
"believes," "plans," "anticipates" and "likely" also identify
forward-looking statements. All forward-looking statements are based
on current facts and analysis. Actual results may differ materially
from those currently anticipated due to a number of factors including,
but not limited to history of operating losses, anticipated future
losses, competition, future capital needs, the need for market
acceptance, dependence upon third parties, disruption of vital
infrastructure and intellectual property rights. All forward-looking
statements are made pursuant to the Securities Litigation Reform Act
of 1995. Additional information on factors that may affect the
business and financial results of the Company can be found in filings
of the Company with the Securities and Exchange Commission.
For further information contact: Jeff Daly at: 954-786-2020;
Facsimile: 954-786-2080; or e-mail: jeff@wallstreet-review.com
Additional information is available at the Company's website:
wallstreet-review.com
--30--mw/mi*
CONTACT: Wallstreet-Review, Inc., Lighthouse Point
Jeff Daly, 954/786-2020
Facsimile: 954-786-2080
e-mail: jeff@wallstreet-review.com |
