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Gold/Mining/Energy : Caribgold- CG:TSE

CG 57.28

-0.5%

1:14 PM EDT

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To: Veritas who wrote (44)	3/9/1999 12:08:00 PM
From: kidl	Read Replies (1) of 48

CaribGold acquires mineral claims in Lac Rocher CaribGold Resources Inc CG Shares issued 10,496,000 Mar 8 close $0.30 Tue 9 Mar 99 News Release Mr. Paul Zyla reports The company has agreed to acquire a 100 per cent interest subject to a 1 per cent net smelter return in a 369 block of mineral claims in the Lac Rocher area of northwestern Quebec in a transaction with a private party. The terms of the agreement call for an immediate payment of $108,680 and the issuance of 967,732 shares of the company to the vendor. The shares will be issued in two equal instalments of 433,866 shares, one instalment due immediately and the second instalment on or before March 8, 1999. The company has the right to purchase the 1 per cent net smelter return at any time for $1.5-million. The property covers a four to six kilometre diameter complex magnetic high covering a layered ultrabasic intrusive including peridotites, pyroxenites and gabbros. These geological environments may host copper-nickel and precious metal deposits. © Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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