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Gold/Mining/Energy : Brex Exploration Inc. (M.BX)
BX 155.41-0.1%Dec 26 9:30 AM EST
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To: Michael Shuman who wrote ()11/21/1998 12:55:00 AM
From: MAKAMAI  Read Replies (1) of 134
 
BX NEWS RELEASE;

X-Envelope-To:
From: newsout@canada-stockwatch.com
Date: Wed, 18 Nov 1998 04:13:16 -0800
Subject: Stockwatch: Brex Exploration Inc - News Release
To: smhickel@iserv.net
X-Mailer:

Brex completes acquisition of POD claims

Brex Exploration Inc BX
Shares issued 23,447,235 Nov 17 close $0.11
Wed 18 Nov 98 News Release
Also Mirandor Exploration Inc (MIQ)
Mr. Andrew McQuire reports
Brex Exploration has completed its acquisitions process of the POD group of claims by signing an agreement that purchases all its advance production royalties. Brex owns 50 per cent of the POD group allocated by Exploration Mirandor. Brex will issue 3.5 million shares to a private Nevada company, to complete the agreement and purchase the royalties on the POD claims. The property is in the Railroad district of the southeastern part of the Carlin Trend,
seven kilometres south of Newmont Gold's operating Rain
underground gold mine and eight kilometres southwest of Newmont's
soon-to-be-opened Emigrant open-pit gold mine. Geologically, the POD property has lower plate Devonian rocks exposed on surface. The rocks are intensely altered and silicified with large areas of exposed jasperoid. These are the rock types that host the major gold
deposits in the Carlin Trend. All showings, including the surface POD
deposit, are bounded by high-angle northwest trending faults. The
geological resources as at July 1997 stood at 1.4 million tons at 0.085 ounce per ton gold (D. Gaudreault, July 1997).
The POD claims are subject to the Kinross joint venture agreement whereby Kinross can earn a 50 per cent interest in the Railroad project by expenditures of $7-million (U.S.) in exploration and an additional 10 per cent by spending another $5-million (U.S.) on a positive feasibility study.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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