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Gold/Mining/Energy : New Claymore Resources
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To: Barry who wrote ()9/4/1997 9:40:00 PM
From: jerry janko   of 531
 
>Everest Update September 4, 1997:
>
>Currently working on two fronts Everest's Exploration Programs are
>providing promising results.
>
>The Alberta Diamond Exploration Program.
>
>Having ironed out the property acquisition Everest will proceed with the
>exploration. The four properties originally acquired as a 50% earn in JV
>have been acquired 100% by Everest at nominal cost. The subsequent JV deals
>with Blackrun Resources on the balance of the properties are still in
>effect, including the New Claymore JV.
>
>Pretty complicated I know, bottom line Everest is in a much better position
>from every angle in Alberta.
>
>Preliminary airborne magnetic data flown on the New Claymore properties
>look rather promising and now that Everest's situation is "locked up"
>further work will get underway A.S.A.P! Watch Alberta in the coming weeks.
>
>Kaza & Northstar:
>
>All phases of work up to the drill program have been completed. Both
>properties are producing positive results with no change from last year's
>optimistic outlook.
>
>The coincident geochem and IP has been confirmed and extended on Kaza. The
>anomaly has a known strike length the extent of the survey (1.1 kilometers)
>open at 100 meters deep and open still North and South. Considerable
>trenching has been completed revealing a great deal of information about
>the geological structure of the anomaly, samples are currently being
>assayed. A drilling program is indicated, to commence shortly.
>
>The trenching program at Northstar is complete. The results of the
>trenching have shed some light on the geological nature of the anomaly and
>the relationship of the Cu, Ag vein structures. All data returned to date
>indicate a drilling program to commence shortly.
>
>Recent Market Activity:
>
>Regarding the recent weakness in price and increased trading volume;
>On August 13, 1997 a 4.5 million share private placement had its
>anniversary. The total shares outstanding have increased to just over 7
>million (from approximately 2.5 million). The private placement was
>executed at 38 cents per share with a .75 cent warrant.
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