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Gold/Mining/Energy : Rondal Gold Corp -RGD (formerly Prior Resources - PQL)
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To: Bob Brigger (Robert) who wrote (209)3/5/1997 12:57:00 PM
From: Carol   of 331
 
Hi Bob,

Thought you and other PQL watchers would be interested in this news release:

Regards
Carol

March 5, 1997

Option Agreement With Prior Resources Ltd.

RILEY RESOURCES LTD. ("RYR-V;RYRCF-L")

PRIOR RESOURCES LTD. ("PQL-Y;PORLF-L")

- Option Agreement With Prior Resources Ltd.

William A. Trimble, President of Riley Resources Ltd., reports that the Company has entered into an option agreement with Prior Resources pursuant to which Riley has acquired the right to purchase a 50% interest in Prior's El Trejo gold property in Mexico. The Trejo property consists of four mineral claims in Sinaloa State approximately 80 miles northeast of Mazatlan.

Under the agreement, Riley will make a total of $255,000 U.S. in option payments by August 1, 1998 and expend $1,000,000 U.S. on exploration by May 1, 1999. The mineral claims are subject to a 3.0% Net Smelter Royalty.

A previous exploration program consisting of 18 drill holes and extensive trenching has revealed a large zone of open pit gold mineralization with a minimum potential of 300,000 ounces gold. The gold mineralization encountered to date appears amenable to low cost heap leach extraction techniques and averages significantly higher than most heap leach operations in Mexico.

TEL: (604) 687-3376 William A. Trimble, President FAX: (604) 687-3119
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