Their lastest press release in case you didn't see it:
CALDERA RESOURCES INC.
Canada Australia
481 University 1 Charles Street
Suite 301 Suite 8
Toronto, Ontario, M5G 2E9 South Perth, Western Australia
Telephone: 416-260-9810 ext. 2 Telephone: 011-6189-367-7728
Facsimile: 416-260-9681 Facsimile: 011-6189-367-7705
Website: www.calderares.com
____________________________________________________________________________
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PRESS RELEASE
ME Symbol: "CDR" FOR IMMEDIATE RELEASE
Cusip: 12878D 105 December 15, 1998
South Perth, Western Australia
Caldera Resources Inc. is pleased to announce that it has completed the
acquisition of Remington Resources N.L.. Remington is a private Australian
company that is involved in diamond exploration in Western Australia.
Remington was acquired in exchange for the issuance by Caldera of 12,756,252
shares. As a result of this transaction, there are currently 31,780,373
Caldera shares outstanding. As disclosed in Caldera's press release of
November 2, 1998, this acquisition was a "related party transaction". In
accordance with applicable regulatory requirements, the transaction was
approved by disinterested shareholders at a special meeting held today.
Caldera is engaged in diamond exploration in the Abminga region of northern
South Australia and is the major tenement holder in the region. The
acquisition of Remington gives Caldera participation in another major
diamond exploration project. The acquisition also provides benefits to
Caldera through the sharing of resources, management and exploration expertise.
Remington Resources properties are geographically and geologically distinct
from Caldera's properties. Remington Resources' principal exploration
project is a group of Exploration Licences located in the north central part
of Western Australia, approximately 400 kilometres east of the nearest major
iron ore mining towns of the Pilbara region. Remington Resources was formed
to carry forward exploration in an area on the north-eastern margins of the
Pilbara craton selected on the basis of conceptual regional geological and
structural modelling that recognized the structural similarities between the
diamondiferous Kimberley Provinces with those on the margins of the Pilbara
region. The conceptual model was the result of many years of regional
geological and structural investigations. Remington has been exploring on
its own properties in the Pilbara region since 1995. Initial reconnaissance
surface sampling carried out by Remington on selected prospective areas
reported kimberlite indicator minerals from five sample locations which
Remington has designated as five distinct project areas.
Validation of the exploration concepts and confirmation of the diamond
exploration potential allowed Remington to proceed with a major program of
tenement acquisition. Remington now holds exploration Licences in five
principal project areas covering 1,149 square kilometers. Aeromagnetic
surveys on these areas totaling 18,480 line kilometres identified a large
number of anomalies with characteristics consistent with
kimberlite/lamproite pipes. Surface sampling of some aeromagnetic anomalies
has confirmed the presence of kimberlite indicator minerals.
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The preliminary results from one project area, the Tabletop Project, have
been very encouraging. Stockdale Prospecting Limited, the Australian
subsidiary of De Beers, have shown interest in Remington's work on Tabletop
Project and have recently entered a joint venture with Remington to explore
part of one project area. The joint venture participation of a diamond
exploration group with de Beers's stature added considerable value to the
Remington acquisition.
In addition, as previously announced, Caldera has has applied for two
Exploration Licences aggregating 52 square kilometres in the Pilbara region
of Western Australia. The areas involved were identified on the basis of
regional geological and structural research and reports of previous
exploration in the region. The applications were made jointly with Dioro
Explorations N.L., an Australian company, which is an equal joint venture
partner on this ground. Caldera has also applied for a further six
Exploration Licences in its own right. The Exploration Licence areas total
611 square kilometres located in the Great Victoria Desert, approximately
400 kilometres northeast of the regional mining centre of Kalgoorlie,
Western Australia. The areas contain prospective magnetic targets
identified from a recently released regional aeromagnetic survey carried out
by the Australian government.
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