From: newsout@canada-stockwatch.com
Date: Mon, 02 Mar 1998 13:00:57 -0800
Subject: Stockwatch: Primero Industries Ltd - News Release
To: ajanko@erinet.com
Primero acquires 50% interest in New Claymore prospect
Primero Industries Ltd PMI
Shares issued 9,286,448 Feb 27 close $0.21
Mon 2 Mar 98 News Release
Also New Claymore Resources Ltd (NCS)
Mr Jonathan George reports
Primero has entered into an option agreement with New Claymore Resources to
acquire a 50% interest in the 230,000 acre Elektra prospect, approximately
45km north of the Ashton/Pure Gold/Alberta Energy discovery block, Buffalo
Hills, Alberta.
Primero may earn its interest by paying $100,000 cash ($50,000 on signing),
before September 30 1998, issuing 200,000 shares in stages (50,000 shares
upon VSE acceptance), and incurring exploration expenditures totalling
$4.00 per acre by November 30 1999.
Data from an airborne geophysical survey, completed in 1997, is presently
being interpreted and results should be received shortly.
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