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Gold/Mining/Energy : WWS.T World Wide Minerals

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To: tango who wrote (288)	12/30/1997 4:40:00 PM
From: traacs	Read Replies (1) of 784

WORLD WIDE COMPLETES US$60 MILLION WORKING CAPITAL FINANCING 1997-12-30 TORONTO, ONTARIO World Wide Minerals Ltd. (TSE - WWS) announced today that a Loan Agreement has been signed for a US$60 million (equivalent to C$86 million at today's exchange rate) 5 year revolving working capital credit facility arranged by Deutsche Morgan Grenfell. The facility is being provided by Deutsche Bank AG which plans to syndicate the facility to other banks. The facility has been provided to World Wide's subsidiary, Word Wide Uranium Holdings Inc. Drawings under the facility are secured primarily by inventories of uranium and by an assignment of uranium sales contracts. The financing is not tied to production of uranium from any particular source. Proceeds will be used to finance working capital, which will include the build-out of the Dornod uranium mine in Mongolia. Principal and interest payments on the facility are scheduled to coincide with receipt of payments for deliveries of uranium under the uranium sales contracts. Interest on individual drawings is based on the London Interbank Offered Rate (LIBOR) and is converted from a floating rate to a fixed rate of interest. The first drawing under the facility - in the amount of approximately US$12.7 million (C$18.2 million) - was made today with the interest rate for the drawing set at LIBOR plus 0.875% per annum. FOR FURTHER INFORMATION CONTACT Corinna J. de Beer Director of Investor Relations Phone: 1-416-369-6084 Fax: 1-416-369-6088 E-Mail: cdebeer@worldwideminerals.com 4 King Street West Suite 1208 Toronto, Ontario Canada M5H 1B6 Tel. (416) 369-6080 Fax. (416) 369-6088 Email: wws@WorldWideMinerals.com Web Site: www.worldwideminerals.com

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