Spiney, to clarify the private placement was 800,000 units not dollars. Here is the NR
LATITUDE MINERALS CORP.
SUITE 612,475 HOWE STREET VANCOUVER, BC V6C 2B3
Tel: (604)688-2010; Fax: (604)688-20l5, Toll free: 1-800-668-0071
e-mail: mineral@mineweb.com
trading symbol: LTU.V
VANCOUVER, BC, November 16, 1998: Latitude Minerals Corp. (LTU.V) has agreed to a private placement of 800,000 units of the Company at a deemed price of C$0.30 per unit. Each unit shall consist of one common share accompanied by a two year share purchase warrant which entitles the holder to acquire an additional share of the Company at C$0.30 for the first year and C$0.35 in the second year. The proposed private placement is subject to regulatory approval.
Proceeds from the placement will be used for the further exploration of the Company's gold projects in the western United States as well as for corporate working capital.
Latitude Minerals Corp. is an aggressive junior gold exploration company based in Vancouver with field offices in Spokane, WA. The Company is currently developing four advanced-stage gold deposits in the western United States and as well holds a 25% interest in Project 79 in South Voiseys Bay, Labrador in partnership with Donner Minerals Ltd. (25%) and NDT Ventures Ltd (50%). The current gold resource of the Company is 1.85 million ounces of which 700,000 ounces is minable.
On Behalf of the Board of Directors,
LATITUDE MINERALS CORP.
" John R Carden"
John R. Carden
President
THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN
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