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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: W.F. Schwertley who wrote (12248)	4/24/1998 12:39:00 PM
From: W.F. Schwertley	Read Replies (1) of 20681

To All, I was in a rush and made a mistake in computing the average assay numbers (percentages) for drill hole #4 according to press releases 1/96 and today's. Numbers were computed using identical drill depth samples, but it appears that today's numbers combined many of the separate samples used on 1/96. The average for 1/96 was .167 oz/ton. The average for today was .078 oz/ton. As such, today's numbers are 217% less than those released on 1/96. Is this one of those PRs that keep getting better and better. I think not. But on the positive side, the share price should go up due to the contrary tendencies that the recent PRs have had on the share price (refer to Jerard's post). WFS

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