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Gold/Mining/Energy : Sierra Nevada Gold - SDD.vse

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To: rdww who wrote (43)2/3/1999 3:59:00 PM
From: rdww   of 65
 
completion of the PP announcement - funds for property payment - I think that insiders took down most of the PP.

Sierra Nevada proposed private placement

Sierra Nevada Gold Ltd SDD
Shares issued 17,086,456 Feb 2 close $0.08
Wed 3 Feb 99 News Release
February 3, 1999 - Sierra Nevada Gold Ltd. has filed a Notice of Proposed
Private Placement with the Vancouver Stock Exchange this date.
Under the terms of the private placement, 260,000 units will be sold at
$0.15 per unit. Each unit consists of one common share and a warrant to
purchase an additional share until February 3, 2001. No finder's fee is
payable. Net proceeds from the sale will be $39,000. The private placement
is subject to regulatory approval.
Funds will be applied towards a property payment on the Company's
Promontorio property and administrative expenses.
SIERRA NEVADA GOLD LTD. shares trade on the Vancouver Stock Exchange under
symbol "SDD".

On Behalf of the Board of Directors

Bonnie J. Lee, CFO
The Vancouver Stock Exchange neither approves nor disapproves of the
content of this News Release which was prepared solely at the discretion of
Management.
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