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Gold/Mining/Energy : Royal International Venture RIL.V (was Labrador Int'l LAB)
LAB 1.380+7.8%Nov 21 9:30 AM EST
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To: Rocket Red who wrote (1417)11/17/1998 4:00:00 PM
From: Ed Pakstas  Read Replies (1) of 3380
 
***NEWS RELEASE***

Adlatok River 2 PEM survey progress; private placement update

Labrador International Mining Ltd LAB
Shares issued 10,973,308 Nov 16 close $0.19
Tue 17 Nov 98 News Release
Mr. Jerry Bradley reports
Labrador International has been informed by Donner Minerals that the third
loop of the PEM survey on the Adlatok River 2 property in South Voisey's
Bay is two days from completion. Labrador International Mining is reviewing
current PEM data with the company consultants to evaluate several
significant drill targets. Drilling is anticipated within the next 10 days.
The company has also issued a clarification of its news release of Nov. 17,
1998, regarding a private placement with Dominick and Dominick Securities
which should have read as follows:
The company has negotiated a brokered private placement with Dominick and
Dominick Securities for 4 million special warrants at 15 cents for
$600,000. Each special warrant will entitle the holder to acquire one unit
consisting of one share and one warrant and at no additional consideration
to purchase one share for 15 cents in the first year and at 20 cents in the
second. The company has agreed to pay Dominick and Dominick Securities a
commission of 10 per cent of gross proceeds. Proceeds will be used to
finance work in South Voisey's Bay, Labrador, as well as for general
administrative purposes.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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