Armada Gold 10 Million oz of Gold & 1 billion lb of Cu ! Message Board

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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu !

AAU 0.380

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Sep 29 5:00 PM EST

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To: ISOMAN who wrote (411)	3/24/1998 11:58:00 AM
From: don jackson	Read Replies (1) of 552

News release from Canadian Corporate News " FOR: ARMADA GOLD CORPORATION TSE, ASE SYMBOL: AAU MARCH 24, 1998 Armada Gold Boosts Stake in Russian Project to 100 Percent TORONTO, ONTARIO--Armada Gold Corporation announced today that it has agreed to acquire the final 15 percent equity in the Baley Gold Project through taking its shareholding in Balgold Limited to 100 percent. Armada will issue 3 million Armada Gold shares to shareholders of its Russian Baleyzoloto to complete the transaction. The transaction is subject to the approval of the Toronto Stock Exchange and all other regulatory authorities. Balgold owns licenses covering several gold deposits which together form the Baley Gold project in southeastern Siberia. The largest of the deposits is the Taseevskoe resource containing more than 5 million ounces of gold. Armada completed a feasibility study using Kvaerner Metals Davy Ltd. Of Toronto in October 1997 on this large epithermal gold deposit. Armada also has a 49 percent interest in the Erdmin copper project in Mongolia, which is producing ten tonnes of copper cathode a day from a demonstration plant and is presently subject to a feasibility study for a six-fold expansion of the operation. In addition, the company wishes to announce that Investor Relations will now be undertaken from its Toronto office. Beginning April 1, 1998, Investor Relations can be reached toll- free at 1-800-517-1119. "

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