FEBRUARY 9, 1999 / NEWS RELEASE
FOR: INTERNATIONAL KIRKLAND MINERALS INC.
VSE SYMBOL: IKI
International Kirkland Minerals Inc. - News Release
TORONTO, ONTARIO--
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Shares Issued: 5,188,001
Shares Authorized: 100,000,000
Stock Options / B Warrants: 545,000 at $0.40
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International Kirkland Minerals Inc. ("IKI" / The "Company") is
pleased to announce that, subject to regulatory approval, the
Company has entered into two option agreements as follows:
1. FOREURS CLAIM BLOCK, QUEBEC
The Company may earn a 50 percent interest in the 15 claim Foreurs
block from Dumont Nickel Inc. by paying $55,000 in cash and 50,000
common shares of the Company on signing, and within the next three
years paying $15,000 per year, incurring $375,000 in exploration,
and issuing a further 50,000 common shares of IKI. The Foreurs
property is subject to a 3 percent NSR royalty of which 1.0
percent of the NSR may be repurchased for $1,000,000 USD within
the next five years.
The Foreurs claim block is contiguous to the southern boundary of
the Nuinsco Resources Limited Lac Rocher nickel property and is
situated approximately 1,000 m south of the recent Nuinsco
discovery where Nuinsco reported values, in drill core, of up to
17.7 m of 3.87 percent Ni, 0.99 percent Cu and 0.09 percent Co.
2. HUSKIES PROSPECT, QUEBEC
In addition, IKI may earn a 100 percent interest from a private
vendor in the 30 claim Huskies Prospect by making cash payments of
$55,000 on signing and $15,000 per year in the second and third
years, as well as issuing 50,000 common shares of the Company on
closing and a further 50,000 common shares on or before May 31,
1999 on filing of a property report acceptable to the VSE, and by
incurring $200,000 in exploration over a three year period. Upon
exercise of the option, the property will be subject to a 3
percent NSR royalty. These 30 contiguous claims are situated
approximately 18 km due east of the Nuinsco discovery within a
similar geologic setting. The Huskies Prospect is known to host
two intrusive magnetic anomalies within local Gneissic rocks.
IKI plans an immediate 90 day surface geophysical survey on both
the Foreurs and Huskies properties with the objective of defining
drill targets. In addition, Nuinsco reports that their drilling,
1,000 m north of IKI holdings, will resume within the next 10
days.
On behalf of the Board,
Dan M. Clark, President
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