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Gold/Mining/Energy : Victory Ventures

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To: DANIEL who wrote (10)	10/20/1998 9:44:00 PM
From: DANIEL	Read Replies (1) of 15

PRESS RELEASE Victory Ventures Inc VIP Shares issued 11,307,277 1998-10-16 close $0.1 Monday Oct 19 1998 Mr. Doug McFaul of Victory Ventures reports Victory Ventures has entered into an option agreement on the Nico property with Montello Resources Ltd. The Nico property adjoins Montello Resources' Nina claim block northwest of the main Ashton block. Montello Resources can earn a 40 per cent interest in the Nico property by conducting an airborne geophysical survey of the property. Montello Resources anticipates commencement of an airborne geophysical survey of this area within the next four to six weeks. The company is also currently discussing possible joint venture opportunities on its three properties on the northern boarder of Lesser Slave Lake. Victory currently has a 100 per cent interest in the Syd 1, 2 and 3 claim blocks. An airborne geophysical survey, followed by groundwork and data interpretation has identified numerous interesting magnetic anomalies on all three properties. Daniel Power is resigning from the board of directors effective Oct. 19, 1998.

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