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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: average joe who wrote (7938)	4/30/2002 7:33:38 PM
From: Al Collard	Read Replies (1) of 11802

IEA-v...in the news: Int'l Arimex to acquire Sturgeon, Gull and Candle Lake Tue 30 Apr 2002 News Release Mr. J. Kenney Berscht reports International Arimex Resources has entered into two agreements to acquire 100-per-cent interests in certain properties located in the southern mining district of Saskatchewan. Pursuant to the first agreement, in consideration of the issuance of 250,000 shares in the capital of the company, the company acquired a 100-per-cent interest in the Sturgeon mineral claim. The property is 212 hectares in size in the Fort a la Corne area and is believed to be the only kimberlite pipe that is exposed at surface in Saskatchewan. Prior exploration has defined a kimberlite body approximately 200 metres long and 100 metres wide, and a bulk sampling program is planned for the summer of 2002. Pursuant to the second agreement, in consideration of the payment of $12,000 and the issuance of 200,000 shares in the capital of the company, the company acquired a 100-per-cent interest in the Gull property and the Candle Lake property subject to a 1-per-cent net smelter return. Both the properties are located close to proven diamondiferous kimberlites and the claim blocks cover geophysical targets typical of a kimberlite pipe. The Candle Lake property is located 30 kilometres northwest of War Eagle Mining Co. Inc.'s kimberlite pipe in the Candle Lake area and hosts the Aniston target. The Aniston target has a magnetic response of 15 nanoteslas (nt) and is approximately 500 metres in diameter. Depth to magnetic response was previously interpreted to be 150 metres. A ground magnetic survey followed by drilling has been recommended for this target and will be completed in the summer of 2002. The Gull property is located 23 kilometres southwest of War Eagle's pipes 29 and 30 and is 20 kilometres northeast of pipe 28. Preliminary aeromagnetic surveys have identified two prospective targets. These targets are within two kilometres of each other, and warrant follow-up ground magnetic surveys and drilling which will be completed in summer 2002. The company has entered into finder's fee agreements with Reignmaker Financial Corp., in consideration of its introduction to the vendors of the properties. The company will issue a total of 55,000 shares for the introduction to the acquisitions. The acquisition and finder's fee agreements are all subject to regulatory approval. The company is also in the final stages of negotiating a property acquisition in the Snow Lake area of Manitoba.

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