Jersey Petroleum -JPI (was Jersey Goldfields -JRG) Message Board

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Gold/Mining/Energy : Jersey Petroleum -JPI (was Jersey Goldfields -JRG)

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To: burner who wrote (54)	3/4/1998 9:05:00 PM
From: David Reid	of 100

Does anybody have an update or any knowledge on this proceeding? JERSEY GOLDFIELDS CORPORATION (the "Company") Suite 570, 789 West Pender Street Vancouver, British Columbia V6C 1H2 Telephone: (604) 683-5651 Facsimile: (604) 684-9365 February 5, 1998 Trading Symbol: "JRG" NEWS RELEASE Mr. James E. Yates reports: LEGAL ACTION COMMENCED The Board of Directors of the Company announces that Grantham Resources Ltd. ("Grantham") has recently commenced legal action as against the Company and Cominecsa Compania Minera Ecuatoriana S.A. ("Cominecsa") pursuant to which Grantham seeks return of exploration expenditures as against the Company and Cominecsa regarding the title and ownership of certain Peltetec resource property interests located in Ecuador. The Company is of the view that these claims are wholly unfounded and will vigorously defend Grantham's action. Dave

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