EAST PEORIA, Ill.--(BUSINESS WIRE)--Nov. 24, 1997--
Maxam's Mine Production Tailings Exempt from
Aquifer Protection Permit Requirements
Maxam (OTC BB:MXAM) has received notification from Arizona Department of Environmental Quality that "...tailings from the Peoria 7 LLC mine site meet the criteria for inert materials in accordance with Arizona Administrative Code R18-9-101.8. As a result, the associated tailing disposal facility at the Peoria 7 LLC mine site is exempt from aquifer protection permit requirements pursuant to the Arizona Revised Statutes 49-250.B.20...."
This news meets within our previously announced production schedule to commence after first quarter 1998.
To review the letter from Arizona Department of Environmental Quality, refer to the Maxam Web Site.
Maxam Shareholder Warrants Filed with SEC
The Maxam Gold Corporation warrants announced for shareholders of record as of March 13, were filed with the Securities and Exchange Commission on October 22; Registration Number 33338577. -0-
Note to Editors: Safe Harbor Statement -- Actual results from the above disclosures could differ material from projection, as results from economic factors, geological factors, operations factors, government regulations, or factors relied upon from independent sources, may either negatively or positively impact exploration or mining progress.
CONTACT:
Maxam Gold Corp.
Dale Runyon, 309/699-8725
Al Hubbard, 602/314-4907
maxamgold.com
KEYWORD: ILLINOIS ARIZONA
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