Hi,
It looks like there could be some action later this winter.
NEWS RELEASE
September 30, 1998 Trading Symbol: BFD-V
Jens E. Hansen, President of Beaufield Consolidated Resources Inc. ("Beaufield") is pleased to announce that the Company has entered into an Option/Joint Venture Agreement with Northern Abitibi Mining Corp. ("Northern Abitibi") whereby Beaufield can acquire up to a 50% interest in the Roy Property located in the Dubuisson Township, Val d'Or, Quebec. The Roy Property lies between two past producing gold mines, the Siscoe and the Sullivan, each approximately one million ounce producers.
Under the terms of the agreement, Beaufield will issue 200,000 shares of stock to Northern Abitibi, in lots of 50,000, over an eighteen-month period and incur up to $110,000 in exploration by April 1, 2000.
Beaufield will be the Operator of the project and will conduct an airborne magnetic and electromagnetic survey covering the property and adjoining past producers, to map the geological setting of the Roy Property with respect to the adjacent mines. Diamond drilling is planned to follow once freeze-up has occurred.
For further information, please contact:
Jens E. Hansen Tel: (613) 721-2919 Fax: (613) 828-7268 |
