The Money Guild Inc. Announces Hiring of Geologist
PR Newswire - August 18, 1998 15:28
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NEW YORK, Aug. 18 /PRNewswire/ -- Money Guild Inc. (OTC Bulletin Board: MYGD) today issued the following:
Geologist Hired:
Money Guild Inc. (MYGD) is pleased to announce that it has recently signed a contract with Mr. Rex Pegg P. Eng who
moved on site Monday, August 10, 1998 for the evaluation of the Miribisi and Hato La Domingo concessions in
Venezuela
for a period of up to three months. His work will entail the compilation of all previous exploration and mining data.
Additionally, Mr. Pegg will provide the Company with geological, geochemistry, sampling, trenching, exploration pits,
geophysical and an initial drilling program. Along with accumulating data from adjoining properties, his work will also
entail
visiting nearby labs in order to assess their methods and turn-around time for assays and applicable costs. It should be
noted
that Mr. Pegg is very experienced in his field having worked 13 years for B.P. Canada, Selco Canada, Kennecott and Lac
Minerals in Canada prior to spending the last 10 years consulting for various companies in North and South America,
Eastern Europe, Africa and Asia.
New Auditors, Airborne Study:
Money Guild Inc. has asked for and will receive in the near future an engagement letter from a New York firm of
chartered
accountants with correspondent affiliates in Venezuela in order to facilitate general accounting procedures in both
jurisdictions. Additionally, the Company has received a letter of interest from Eldorado West Airborne Geophysics to
begin
the airborne geophysical survey.
Hardwood Contract:
Negotiations are now in the preliminary stages with an overseas lumber company to begin a comprehensive timber cruise
and feasibility study to harvest and reforest the extensive "exotic" hard wood area of the Hato La Domingo.
Granite Deposit:
The Company has received verbal interest from a European company and will be hiring a local Venezuelan engineer to
do a
comprehensive engineers report on the two large granite deposits located within Hato La Domingo for the purpose of
cutting, polishing and exporting high grade granite slabs.
On behalf of the Board of Directors
Per: Martin Davies
Note: This news release may contain certain "forward-looking statements" within the meaning of the United States
Securities
Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future
plans
and objectives of Money Guild Inc., are forward-looking statements that involve various risks and uncertainties. There
can
be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from
those anticipated in such statements. Important factors that could cause actual results to differ materially from the
Company's
expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with the
United States Securities and Exchange Commission and other regulatory authorities.
SOURCE The Money Guild Inc.
/CONTACT: Jim Cromwell, The Money Guild Inc., 800-241-1168/
(MYGD) |
