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Gold/Mining/Energy : BLACK HAWK (TSE:BHK)
BHK 9.510-0.5%Dec 4 4:00 PM EST
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To: traacs who wrote (256)4/28/1999 1:00:00 AM
From: Stephen O  Read Replies (1) of 545
 
REPADRE CAPITAL CORP ("RPD-T;REPAF-L") BLACK HAWK MINING
INC ("BHK-T") - Repadre To Be Issued 1.2 Million Black Hawk Common Shares

Pursuant to Section 93 of the Securities Act (Ontario), Repadre Capital Corporation
("Repadre") reports that Black Hawk Mining Inc. ("Black Hawk" will issue, upon
TSE approval, 1.2 million shares to Repadre pursuant to an amended net smelter
return royalty agreement between Repadre and a subsidiary of Black Hawk relating
to its El Limon mine. Under the amended royalty agreement, Black Hawk is permitted to issue shares to Repadre in lieu of cash
as royalty payments until December 31, 1999. Repadre currently holds 10.8 million common shares and 0.8 million common
share purchase warrants of Black Hawk. After the issuance of the 1.2 million shares and assuming Repadre exercises the
warrants and that no additional common shares of Black Hawk have been issued, Repadre would own 12.9 million shares of
Black Hawk representing approximately 10.3% of the common shares of Black Hawk. Repadre does not intend to increase its
position in Black Hawk other than through shares that may be issued under the amended net smelter return royalty agreement.

Repadre acquires or creates royalties in the mineral resource industry on a global basis. TEL: (416) 365-2430

Joseph F. Conway, President and CEO FAX: (416) 365-8065
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