Stockwatch News Item
Arctic Star Diamond Corp (C-ADD) - News Release
Oasis Diamond to enter JV in Dumont claims
Arctic Star Diamond Corp ADD
Shares issued 20,003,766 Apr 23 2003 close $ 0.89
Thursday April 24 2003 News Release
See Oasis Diamond Exploration Inc (C-CSI) News Release
An anonymous director reports
OASIS JV WITH KEL-EX ON ATTAWAPISKAT DIAMOND PROJECT
Oasis Diamond Exploration has entered into an agreement with a private corporation Kel-Ex Development Ltd., under control of Charles E. Fipke (Kel-Ex), and Metalex Ventures Ltd., Arctic Star Diamond Corp. and 1387197 Ontario Inc. (Big Red), to participate in exploration of the Dumont nickel claims, and adjoining area, within the Attawapiskat diamond project, located in the James Bay area of Ontario. The project area, comprising 170 square kilometres, including 106 mining claims, is located close to the Victor diamond deposit owned by De Beers.
Under the terms of the agreement with Dumont, Kel-Ex has the right to earn 90-per-cent interest in the Dumont mining claims, and any new claims pegged within the project area. Kel-Ex has agreed to assign a 10-per-cent interest, of the Kel-Ex Interest, to Oasis. Oasis will contribute to continuing work in direct proportion to its interest and Kel-Ex is entitled to 10 per cent of the Oasis share as a free carried interest.
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