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Gold/Mining/Energy : Pangea Goldfields T.PGD
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To: Michael Grajkowski who wrote (35)1/30/1997 11:38:00 AM
From: Neil Irwin   of 1178
 
For those of us that are following Pangea, I saw the following news
release yesterday (Jan 29). Although it doesn't really affect the
day-to-day operations of the company, I guess that it would indicate
that at least one insider feels there may be better opportunities
elsewhere. Does anyone read anything different from this?

Neil.

=-=-=-=-=-=-=-=-=-=-=-=
(From Canada Newswire)

PANGEA GOLDFIELDS ANNOUNCEMENT

TSE: PGD

TORONTO, Jan. 29 /CNW/ - Mr. Jean-Charles Potvin, President and
CEO of Pangea Goldfields Inc., advises that Mr. Oliver Lennox-King has
resigned from the Board of Directors of Pangea, on which he was
non-executive Chairman. He has accepted the position of President and
Chief Executive Officer of a gold exploration company with properties
in Brazil.
The Company wishes to thank Mr. Lennox-King for his guidance and
support since its formation in 1994.
Pangea is a well funded exploration and development company, with
no debt and approximately $24.5 million in cash. Pangea Goldfields
Inc. is active in Canada, Peru, Mali and Tanzania, with over 10
projects currently at the drilling stage.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY
AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED
HEREIN.
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