************NEWS RELEASE************************
DATE: November 11, 1998
NEWS - FOR IMMEDIATE RELEASE
NORA EXPLORATION ANNOUNCES FOURTH QUARTER RESULTS
Montreal ,(QC) - NORA EXPLORATION INC. "Nora" (NXI-ME) is pleased to announce the fourth quarter financial results from its Namibian operations for the period ended August 31,1998. Results of the Corporation's activities in Namibia during last quarter generated revenues of $1,197,788, operating expenses of $919,272 for an operating profit of $278,516.
During the fourth quarter, revenues derived from operations increased by 106%, from $504,489 during the third quarter to $1,037,773.
These figures will be compiled in the Corporation's consolidated financial statements for fiscal 1998.
Nora Exploration Inc., is a Canadian based exploration and mining company, actively involved in the acquisition, exploration and development of first rate diamond properties in Africa. The Corporation's rapid and dynamic growth will place it among the significant players in the world marine diamond business. Its shares are traded on the Montreal Stock Exchange under the symbol NXI-ME.
FOR MORE INFORMATION CONTACT
Mr. Pierre Léveillé
President
John Stella
Investor Relations |
