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Gold/Mining/Energy : Pacrim Resources
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To: D. Bryan who started this subject11/20/2002 9:41:24 AM
From: D. Bryan   of 18
 
News Release

PacRim Resources Ltd - News Release
PacRim to explore JV opportunities in Solomon Islands
PacRim Resources Ltd PRL
Tuesday November 19 2002 News Release

Mr. Ken Baird reports
PACRIM RESOURCES SOLOMON ISLANDS UPDATE
PacRim Resources, formerly Barramundi Gold, has commenced due diligence and a formal analysis of its joint venture opportunity to explore and develop a laterite nickel project in the Solomon Islands.
In October PacRim's management travelled to the island of Isabel in the Solomon's with independent consulting geologist Dr. Gerald Harper to assess the potential of the three-property exploration project. Inco conducted significant exploration for nickel on the island of Isabel during the 1960s. Assays of samples taken during the property visit and the recommendations of Dr. Harper's formal review and report should be available by the end of November.
While in the Solomon Islands, PacRim was able to confirm that the exploration licence has been formally granted to its joint venture partner and the corporation is now awaiting an independent legal opinion attesting to the validity of the licence. Under the terms of the joint venture announced in Stockwatch on Oct. 8, 2002, PacRim can earn up to a 63-per-cent working interest by spending $3-million on the project by Dec. 31, 2004.
In other developments PacRim Resources Ltd. has completed the name change of the corporation from Barramundi Gold Ltd. and the consolidation of its capital stock on a 1 to 10 basis.

(c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com
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