From: newsout@canada-stockwatch.com
Date: Fri, 04 Jul 1997 10:54:03 -0700
Subject: Stockwatch: New Claymore Resources Ltd - News Release
To: ajanko@erinet.com
Alberta properties optioned
New Claymore Resources Ltd NCS
Shares issued 4,015,775 Jul 3 close $1.75
Fri 4 Jul 97 News Release
Mr Anthony Rich reports
The company has entered into four new option agreements on permits in the
Buffalo Head Craton in north central Alberta. Airborne magnetic surveys are
presently under way on these optioned properties as well as other permits
held in this area by the company.
Lucero Resource Corp has optioned two separate blocks of permits. The
southern block of 160,000 acres lies adjacent and south of the discovery
property of Ashton Mining of Canada. A second option block of 230,000 acres
lies north of the main Ashton block, 20 miles south of Fort Vermilion. By
these option agreements, Lucero has made cash payments of $125,000 and
$50,000 respectively to New Claymore and will issue 50,000 shares of Lucero
for each permit block upon VSE approval. Lucero then has the option to
expend $4/acre over two years to earn 50% interest in each of these blocks.
To maintain its option on the southern block, Lucero must pay an additional
$100,000 and issue 150,000 Lucero shares on or before December 31 1997 on
the northern block, pay an additional $50,000 and issue 150,000 shares by
the same date.
Everest Mines and Minerals Corp in partnership with Blackrun Ventures Inc
have optioned two separate permit blocks of 230,000 acres each. These
blocks are both located north of Ashton discoveries and south of Fort
Vermilion. The terms of each of these options are that Everest/Blackrun
each paid New Claymore $25,000; $50,000 per agreement ($100,000 in total)
for each property they will each issue to Claymore 25,000 shares on VSE
approval for a total of 50,000 shares of Blackrun and 50,000 shares of
Everest. They then have the option to each pay a further $25,000 on or
before November 30 1997 ($100,000 total) and issue a further 75,000 shares
on or before December 31 1997 (150,000 shares of Blackrun and 150,000
shares of Everest). By expending $4/acre in exploration over the next two
years, Everest/Blackrun may earn 50% interest in each permit block.
The company has just completed an airborne magnetic survey of the area
which encompasses the southern option of Lucero Resource Corp and the maps
and magnetic profiles are presently being interpreted. The company also
maintains 100% interest in 160,000 acres of permits to the east of this
Lucero option and airborne data for these permits has been received as part
of the same survey.
The northern Lucero block as well as the two Everest/Blackrun permits all
lie within a single 3.1 million acre block of New Claymore permits. This
block lies between lands held by Ashton Mining of Canada and partners. Of
this permit block, 1.6 million acres are presently being flown by High
Sense Geophysics on a 200m line spacing for airborne magnetic data. This
survey will cover the Lucero and Everest/Blackrun option lands. Weather
permitting, the geophysical data should be available in about one week.
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