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Gold/Mining/Energy : Fairmile Gold
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To: Douglas Simpson who wrote (3422)2/2/1998 7:46:00 PM
From: Steve Stakiw  Read Replies (3) of 4057
 
4.6 million share private placement proposed

FAIRMILE GOLD CORPORATION

Telephone: (604) 257-4262 or 1-888-599-6777 Toll Free
Fax: (604) 683-2540

ASE: FLA
NASDAQ Bulletin: FAMQF

February 2, 1998
Fairmile Gold Corporation gives notice that pursuant to The Alberta
Stock Exchange's Circular No. 6, at Section 1.2, it will be making
application to The Alberta Stock Exchange seeking price protection to
effect private placements of up to 4,671,419 common shares at a price
of $0.165 per share. This price was determined by reference to the
trading prices of the Corporation's common shares on The Alberta Stock
Exchange less the permissible discount. No investment dealer, broker
or agent will be participating in the placements.

The proposed placements will be at arm's length. The proposed
placements are subject to regulatory approval and the Corporation will
have 14 days after the issuance of this Press Release to submit its
application to The Alberta Stock Exchange.

For further information please contact the undersigned at
(561)750-8685 or Investor Relations toll-free at 888-599-6777.

(signed)"Thomas R. Kelly"
Thomas R. Kelly, President

The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.
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