Cornucopia Resources Ltd
CNP TSE
October 22, 1996
Reviewing Matters of Corporate Policy
- Reviewing Matters of Corporate Policy
Andrew F.B. Milligan, President of Cornucopia Resources Ltd. and James M. Carter, President
of Carlin Resources Corp. announces that in view of the current widespread interest in Africa as
an area of potential for the acquisition of mineral prospects, the directors of Cornucopia Resources
Ltd. ("Cornucopia") and Carlin Resources Corp. ("Carlin") have been reviewing matters of
corporate policy relating to future property acquisitions, and to Cornucopia's relationship with
Carlin.
While Cornucopia has in the past utilized Carlin as a vehicle for pursuing property acquisitions in
Africa, the directors of Cornucopia are of the view that circumstances now warrant a more direct
involvement by Cornucopia in African projects. Accordingly, Cornucopia's management has been
instructed to pursue the acquisition by Cornucopia of both exploration and more advanced African
development projects for the Company's own account if Cornucopia is successful in acquiring such
projects, a participating interest may be offered to Carlin, subject to Cornucopia's obligations to
Inco Limited under its strategic alliance agreement with Inco Limited.
Carlin will independently pursue the exploration and development of its existing property interests
slid will also continue to seek out new opportunities on its own behalf in future. Any such
opportunities, if acquired by Carlin, may also be made available for participation by Cornucopia,
subject to Carlin's obligations to Inco Limited under its own strategic alliance agreement with Inco.
Cornucopia will continue to provide administrative services to Carlin as required by Carlin, and
will retain its existing rights of first refusal with respect to future findings of Carlin. It is anticipated
that the relationship between Cornucopia and Carlin will be restructured in the near future,
however, to facilitate the independent operation of the two companies. The proposed new
arrangements between Cornucopia and Carlin will not affect transactions previously entered into
by either company.
TEL: (604) 687-0619 Andrew F.B. Milligan, President FAX: (604) 681-4170 Cornucopia
Resources Ltd.
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