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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: SAM-DAN who wrote (11053)1/22/2003 10:13:44 PM
From: Al Collard  Read Replies (1) of 11802
 
SLT-v...in the news:

Solitaire adds to Red Lake holdings

Wed 22 Jan 2003

News Release

Mr. Charles Desjardins reports

SOLITAIRE ANNOUNCES ACQUISITION CONTIGUOUS WITH GOLDCORP
Solitaire Minerals has acquired 37 claim units totalling 1,500 acres in
Byshe township in the prolific Red Lake mining district. Two of the claims
(No. 1244534 and No. 12445350) are contiguous with Goldcorp Inc.'s Red Lake
mine claim group, and lie approximately 800 metres south of the Headway
property, in which the company is earning a 50-per-cent interest from
King's Bay Gold Corp.
The company has the right to acquire a 100-per-cent interest in the
properties by paying $72,000 to the property vendor and issuing 160,000
shares in graduated instalments over four years. In addition, the vendor
will retain a 2-per-cent net smelter royalty, 1 per cent of which can be
purchased by the company for $600,000.
"This acquisition solidifies our position as a leading junior exploration
company with land positions contiguous with the Goldcorp claim group," said
Charles Desjardins, president of Solitaire Minerals.
Goldcorp is mining a 3.8-million-ounce deposit at Red Lake from what is
currently the richest gold deposit in the world.
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