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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: mark silvers who wrote (9794)	3/12/1998 1:36:00 PM
From: Jack Sman	Read Replies (1) of 20681

(PR NEWSWIRE) DJ: Naxos Resources Ltd. Announces Resignation DJ: Naxos Resources Ltd. Announces Resignation VANCOUVER, British Columbia--(BUSINESS WIRE)--March 12, 1998--The Naxos Resources Ltd. (NXR, NAXOF\Y, OTCBB) board of directors wishes to announce it has accepted the resignation of Jimmy John as president and chief executive officer. John will assume the position of chairman of the board. Sidney Kemp has been appointed interim president until a qualified mining professional can be appointed. To accelerate this search an industry advisory committee will be created. Its responsibilities will include recruitment of new management. Naxos believes that all of these elements will combine to strengthen and grow shareholder value. NOTE TO EDITORS: All forward-looking statements made by Naxos involve material risks and uncertainties and are subject to change based on factors beyond Naxos' control. Accordingly, Naxos' future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, without limitation, those described in Naxos' filings with the United States Securities and Exchange Commission. Naxos does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. CONTACT: Naxos Resources Ltd., Vancouver Investor Relations, 603/891-5743, 702/372-1712 or 913/894-8509 * end of story *

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