FOR: NAXOS RESOURCES LTD.
FOR FURTHER INFORMATION CONTACT
INVESTOR RELATIONS: Jeff Sharp (913) 894 - 8509
Russell Smith (603) 891 - 5743
FOR IMMEDIATE RELEASE #98-19
NAXOS ANNOUNCES THE APPOINTMENT OF A CHIEF OPERATING OFFICER
Vancouver, British Columbia - July 10, 1998 - Naxos Resources Ltd (O.T.C. Bulletin Board: NAXOF), today announced the appointment, effective July 9, 1998, of Mr. Fred Arkoosh as Chief Operating Officer of the Company. Mr. Arkoosh will assist the Company's management with respect to the Franklin Lake property. Fred Arkoosh has recently purchased 125,000 shares of Naxos in the open market, bringing his total position in the Company to 1,400,000 shares.
Formed in 1986 as a precious metals and development company, Naxos Resources owns mining projects in Venezuela, British Columbia and California.
ON BEHALF OF THE BOARD
NAXOS RESOURCES LTD
Per: "Signed"
Sidney W. Kemp
President
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.
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