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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: VAUGHN who wrote (2193)11/16/1998 4:35:00 PM
From: PHILLIP FLOTOW   of 7235
 
This news came out after the close:

Litigation settled - Contwoyto 1 kimberlite diamondiferous

(ASE: NDR)

TORONTO, Nov. 16 /CNW/ - New Indigo Resources Inc. (''New Indigo'') is
pleased to announce that a Settlement Agreement (''the Settlement'') has been
reached in the actions between First Island Trustees Limited (''First
Island''), The Fern Trust (''Fern Trust'') Howard B. Miller (''Miller'') and
Lytton Minerals Limited, New Indigo, Glenmore Highlands Inc., Klondike Gold
Mining Corporation, Finngold Resources PLC, D.H.W. Dobson, D.C.B. Alexander
and D.E Whittle (''the litigation'').
In terms of the Settlement, First Island, The Fern Trust and Miller have
agreed to discontinue the actions. None of the parties has acknowledged nor
admitted liability accruing from the claims or allegations made in the
litigation and all the parties will be executing full and final mutual
releases of the other parties to the Settlement in respect of the litigation.
The Settlement is subject to certain conditions which must be fulfilled
including court approval.
Lytton has agreed to pay the legal costs of Fern Trust and Miller
incurred in connection with the litigation.
The recently discovered Contwoyto 1 kimberlite has proved to be
diamondiferous. Planning is now underway for further testing of this discovery
and for drilling several new targets in the winter exploration season
commencing in early 1999.

THE ALBERTA STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.

%SEDAR: 00003312E

Now we will be waiting for SUF's next move.
PHIL
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