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Gold/Mining/Energy : Samex Mining | OTC:BB - SMXMF | Canada - V.SXG

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Sep 10 5:00 PM EST

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To: kfdkfd who wrote (280)	12/11/1997 6:39:00 AM
From: kfdkfd	Read Replies (2) of 539

News FINAL PAYMENT DATE EXTENDED UNTIL APRIL 2000 FOR GOYA/BONETE CONCESSIONS SANTA ISABEL PROJECT - BOLIVIA SAMEX is pleased to announce that the final payment remaining under the terms of the Goya/Bonete Joint Venture Agreement has been extended until April 11, 2000. The agreement between SAMEX and Corporacion Mineral de Bolivia (COMIBOL) requires SAMEX to make a payment of US $500 for each hectare SAMEX wishes to retain at that time. The Goya/Bonete concessions currently cover 1,803 hectares over a major portion of the Santa Isabel porphyry complex in southwestern Bolivia. No additional consideration is required pursuant to the extension of this payment. PROJECT MANAGER HIRED - STOCK OPTIONS GRANTED SAMEX has expanded the Company's exploration team by hiring Mr. Xiaolin (Charlie) Cheng. Mr. Cheng holds a Ph.D. in economic geology from the Department of Geological Sciences, University of BC. Under the direction of Robert Kell - Vice President of Exploration, Charlie Cheng will serve as Project Manager during the next phase of exploration at the Santa Isabel Project. The Company has granted Mr. Cheng an employee stock option on 100,000 shares exercisable at a price of $1.35 per share. The option is exercisable over a five year period which expires December 9, 2002 and is subject to regulatory approval. PANIZOS CALDERA GOLD PROSPECT LaSource Bolivia LTDA has elected not to proceed with the joint venture for the exploration of the Panizos Caldera Gold Prospect in southwestern Bolivia. SAMEX is awaiting receipt of all technical information from LaSource's evaluation of the property. STOCK OPTIONS TERMINATED Effective December 5, 1997, employee stock options terminated on a total of 110,000 shares at a price of $1.35 per share. Jeffrey P. Dahl - Vice Chairman ÿ

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