Delgratia Mining - Shareholders Elect Directors and Ratify Nevada
Acquisition
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 20, 1997-- Delgratia Mining Corporation
(NASDAQ: DELGF ) At the Annual General Meeting held December 16th, 1996, shareholders elected as
directors, Dr. Charles A. Ager, Chairman and President; Mr. Eric X. Lavarack, Vice President of Finance and
Chief Financial Officer; Mr. Geoff Courtnall and Mr. Patrick J. Furlong.
The Company's acquisition of up to a 70 percent interest in a 9,000 acre property located in southern Nevada
was ratified by shareholders. The Company has acquired an initial 40 percent interest in the property for 1
million shares and $5 million cash. A 75,000 foot drill program is now underway to test gold anomalies within
an area some 18,000 feet long by 1,800 to 6,000 feet wide.
In addition, the Company's stock option plan, reserving 3 million shares, was approved. The Company has
granted 1.5 million stock options to certain directors, employees and consultants at a price of US$6.00.
Dr. Ager reviewed Delgratia's activities at the shareholders' meeting. With US$7.5 million in cash, the
Company is currently exploring and developing three gold projects with multi-million ounce potential. In
Nicaragua, the Company is developing the 100 percent owned Coco Mina project already hosting 1.7 million
ounces gold equivalent. The Columbus porphyry gold prospect is the first of 20 gold targets being explored by
joint venture partner Western Mining Corporation as part of the US$12 million exploration program on 10
million acres in Nicaragua. Delgratia is also active in Baja California, Mexico where 14 projects totaling
950,000 acres are under geological evaluation.
"We are looking forward to expanding reserves by further drilling of the Coco Mina gold deposit and by drilling
two other gold projects with multi-million ounce potential during 1997" concluded Dr. Ager.
Eric X. Lavarack
Vice President, Finance and Director
CONTACT: Delgratia Mining Corporation
Dan Palikrousis, 604/ 685-7933
604/ 685-8109 (FAX)
or
Delgratia Mining Corporation
Dean Eyman, 604/ 685-7933
604/ 685-8109 (FAX)
or
Delgratia Mining Corporation
Kyle Washington, 604/ 685-7933
604/ 685-8109 (FAX)
E-mail: nici@delgratia.com
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