Temple Summit Financial Projects: TSFP. Desert Dirt Message Board

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Gold/Mining/Energy : Temple Summit Financial Projects: TSFP. Desert Dirt

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To: Matt C. Austin who wrote (3)	10/30/1997 3:21:00 PM
From: strenlich	of 60

Just Found This (again): Thursday April 17 2:06 PM EDT Temple Summit enters into a joint venture with Cronus Corp. LAS VEGAS--(BUSINESS WIRE)--April 17, 1997--Temple Summit Financial Projects Inc. (NASDAQ/BB:TSFP) entered into a joint venture agreeement with Cronus Corp. The agreement provides that a new limited liability company will be formed by TSFP and Cronus to jointly develop a mining project in Clark County, Nev. TSFP and Cronus will each own a 50% interest in the venture. Cronus, like TSFP, is a natural resource oriented company with precious metal properties in Arizona, and oil and gas leases in Louisiana, Arkansas and Arizona. The LLC will gain the asset of TSFP's newly acquired mining claims encompassing approximately two square miles adjacent to TSFP's existing 640-acre claim block that has 80 acres of proven gold reserves to date. TSFP and Cronus have taken ore samples from the new claim block to several nationally known laboratories for assay. Upon receipt and confirmation of satisfactory assay results, the LLC will proceed with the project. George Hennessey, geological consultant for TSFP, indicated, "This type of venture provides an opportunity for both companies to effectively explore and define reserves within a large permissive area. The claim group contains similar geological parameters and characteristics as those observed at the company's current reserve block." CONTACT: Temple Summit Financial Projects, Las Vegas Charles E. Langrill, 702/261-0717 or Ian Collins, 310/372-3225 Where is area code 310? Regards-strenlich-

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