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Gold/Mining/Energy : AURIGINOR INC-M.AUI Huge Volumes Montreal Exchange

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To: John Leather who wrote (65)2/28/1997 5:11:00 PM
From: Andrew G.   of 329
 
NEWS:

BW0174 FEB 28,1997 13:42 PACIFIC 16:42 EASTERN

( BW)(AURIGINOR)(AUI.) Exploration Auriginor Inc. - Entered Into a
Private Placement Agreement With Institutional Investors

Business Editors

MONTREAL--(BUSINESS WIRE)--Feb. 28, 1997--AURIGINOR(ME
AUI.) Exploration Auriginor Inc. is pleased to announce that it
has entered into a private placement agreement with institutional
investors, for the issuance of 4,500,000 units at a price of $1.17
each to raise $5,265,000.
Each unit will comprise one common share and half of a
share purchase warrant. Each warrant may be exercised to purchase
one additional share at $1.50 for a period of 12 months.
The funds will be used to complete the acquisition of a
gold producing property located in Central America and the
development of the Company's other projects. The previous private
placement announced on February 19, 1997, will be limited to a
maximum 3,125,000 units to stay within the allowed dilution.

--30--SH/dx*

CONTACT: Exploration Auriginor Inc.
514/ 286-0909 (Montreal)
514/ 286-1211 (FAX)
(418) 527-3362 (Quebec)
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