***NEWS RELEASE***
Year end results
Roper Resources Inc RRN
Shares issued 13,484,300 May 15 close $0.45
Tue 19 May 98 Company Review
Mr. Rick Watson reviews the company
During the year ended Dec. 31, 1997, Roper Resources and Safe Environment
Engineering, a California limited partnership, satisfactorily completed
their mutual due diligence and a second phase of negotiations has now
commenced. Roper Resources has deposited, in trust, the sum of $50,000
(U.S.) with the law office of MacDonald, Altman, Sager of Toronto.
With the deposit, Roper obtains the exclusive right to negotiate a
relationship with Safe Environment. The parties are at arm's length and
have agreed to determine and define such a relationship by May 29, 1998. If
circumstances warrant, this date may be extended by mutual agreement.
It is Roper's intent that the outcome of the negotiations will result in an
agreement where Roper will acquire a significant interest in Safe
Environment.
Safe Environment is headquartered in Valencia, California. The company
develops and supplies communications systems which integrate wireless
telemetry and voice communication to transmit information. The company uses
this technology in its patented Life-line system, which, in one version,
enables monitoring of entrants into confined spaces or hazardous locations
and in another configuration, monitors security personnel on patrol rounds.
On the mining side, Roper and its joint venture partners continue to
evaluate and review the geological and drill hole data on the Abbott
project in the Slocan mining district on Healy Creek, which is 40 miles
north of Kaslo, B.C. Work under way is intended to enable a determination
of the field work program in the 1998 season. Subject to financing, the
continuation of surface and underground exploration and development is
planned.
Work planned for 1998 includes a 300 foot haulage tunnel at the 6,450 foot
level to intersect the Abbott replacement orebody. At this point there will
be about 60 feet of ore about the drift and 20 feet of ore below the floor.
Drifting will continue north and south for at least 500 feet along the
strike on the known orebody, which has drilled outlined reserves of 42,024
tons grading .035 ounces gold, 8.35 ounces silver, 10.26 ounces lead and
16.12 ounces zinc. Diamond drilling of the quartz vein will continue in
1998. Previous drilling on this system encountered significant widths at
the 6,480 foot level with massive sulphide intersections of up to 80 feet.
The strike length of the area so far explored on the quartz vein system in
1988 was 280 feet. The vein is open to depth.
Subsequent to the year ended December 31, 1997, 1,500,000 shares were
issued at 14 cents, to net the company's treasury $210,000.
The company has arranged a five year $100,000 (U.S.) convertible debenture.
The company has also arranged a five year convertible debenture with Duncan
R. McKay & Associates of London, England, in the amount of $150,000.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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