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Gold/Mining/Energy : Raindrop Resources Ltd

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To: paul s. who wrote (131)1/12/1998 1:26:00 PM
From: Jon Warren  Read Replies (1) of 178
 
News Release,

Option to purchase in Tanzania terminated; director resigns

Raindrop Resources Ltd RAP
Shares issued 5,500,000 Jan 5 close $0.16
Fri 9 Jan 98 News Release
Mr Harry Joujan reports
Due to the economic downturn in the mining industry, the company has
terminated its option to purchase the properties in Tanzania. The company
remains optimistic regarding Tanzania's diamond potential and is continuing
negotiations to that effect. However, any agreement will have to reflect
the prevailing market conditions.
The company will proceed with previous plans to explore the Manning diamond
prospects in the Buffalo Head Craton in Northern Alberta.
Mr Wayne O'Connor has resigned as a director and officer due to expanded
responsibilities at Trans Canada Energy.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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