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Gold/Mining/Energy : Canmine resources

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To: Amit Ghate who wrote (2768)	2/26/2003 6:37:29 PM
From: Amit Ghate	of 2769

Press Release Source: CANMINE RESOURCES CORP. Canmine Status Wednesday February 26, 5:47 pm ET LONDON, ONTARIO--Edward L. Ellwood reports on behalf of Canmine Resources Corporation (TSX Symbol: CMR - News; "Canmine" or the "Corporation") the following: 1) Following a meeting of the Corporation's board of directors held on Tuesday evening, February 25, 2003 with counsel present, all of the Corporation's directors and officers resigned. 2) During a hearing held today before the Ontario Superior Court of Justice (the "Court") a protection Order previously issued under the Companies' Creditor Arrangement Act ("CCAA") with regard to the Corporation was lifted effective immediately. 3) Also during the Court hearing held today, an Order was issued appointing PricewaterhouseCoopers Inc. ("PWC") as interim receiver to liquidate the Corporation's assets for the benefit of all stakeholders. 4) A meeting of the Listings Committee of the Toronto Stock Exchange is scheduled to be held on Thursday, February 27, 2003 to consider whether or not to suspend trading in the common shares of the Corporation. Issued by: Edward L. Ellwood London, Ontario February 26, 2003 -------------------------------------------------------------------------------- Contact: Canmine Resources Corporation Edward L. Ellwood Phone: (519) 858-4000

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