BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: alan holman who wrote (27542)	11/16/1997 1:04:00 PM
From: alan holman	Read Replies (1) of 28369

FOR FURTHER INFORMATION PLEASE CONTACT: International Pursuit Corporation Stephen R. Dattels (416) 947-9216 or International Pursuit Corporation William Burton (416) 947-9216 NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: INTERNATIONAL PURSUIT CORPORATION TSE SYMBOL: IPJ JULY 30, 1996 Barrick Gold, Pursuit and Dayak Enter Into Joint Venture in Peninsula Area of Kalimantan TORONTO, ONTARIO--International Pursuit Corporation ("Pursuit") and Dayak Goldfields Corporation ("Dayak") are pleased to announce that they have jointly entered into a 50/50 joint venture with Barrick Gold Corporation ("Barrick") to explore and develop Pursuit and Dayak's Peninsula Properties in Kalimantan, Indonesia. Pursuit holds mineral rights to 747,900 hectares and Dayak holds mineral rights to 101,100 hectares, approximately 150 km north of Samarinda in East Kalimantan. Under the terms of the joint venture agreement Barrick can earn a 50 percent interest in the properties by expending C$6,500,000 over the next two years and will be the manager of the programme. The Peninsula Properties are located 65 miles east of the Busang gold discovery of Bre-x Minerals. Preliminary work by Pursuit and Barrick indicates a major structure running east through Busang and the Peninsula area. The Peninsula area has the potential to host both epithermal and Carlin type gold deposits. Pursuit is the largest mineral rights holder in Kalimantan with direct and indirect holdings of 5 million hectares. Pursuit holds 3.2 million hectares directly with an additional 1.8 million hectares held indirectly through Dayak. Pursuit and Dayak have begun preliminary exploration surveys on their other Kalimantan properties. Pursuit is a Canadian public company whose shares are listed on the Toronto Stock Exchange under the symbol "IPJ".

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