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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Steve Skapik who wrote (10754)	3/20/1998 6:19:00 PM
From: Kim W. Brasington	Read Replies (3) of 20681

FOR: NAXOS RESOURCES LTD. FOR FURTHER INFORMATION CONTACT INVESTOR RELATIONS: Jeff Sharp (913) 894 - 8509 Bob Gardner (702) 372 - 1712 Russell Smith (603)891 - 5743 FOR IMMEDIATE RELEASE #98-9 NAXOS RESOURCES ANNOUNCES A FURTHER EXTENSION TO THE JOHNSON-LETT AGREEMENT. Vancouver, British Columbia - March 20, 1998 - Naxos Resources Ltd (O.T.C. Bulletin Board: NAXOF), a precious metals and development company, today, has negotiated a further 30 day extension to the Johnson-Lett Agreement, referenced in News Releases 98-1 and 98-3. 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. For further information, please contact our Investor Relations' Department at (603) 891-5743 or (702) 372-1712 or (913) 894-8509.

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