Abacus Minerals Corporation (V.AMC) Message Board

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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC)

AMC 2.405

-7.1%

3:59 PM EST

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To: Laser who wrote (12)	3/5/1997 5:32:00 PM
From: the mouth	of 397

To All AMC shareholders: AMC announced today that they have signed a LOI with Barrick to acquire 6 properties in Santa Cruz Province in Argrntina. This is the same area as Anglos Cerro Vanguardia which is rumoured to have 5mm oz of gold. AMC will issue 400,000 shares from treasury over the first four years and spend US$ 2.750 million on E & D over four years. Barrick can back in to all 6 properties for a 50% contributing interest by spending (after AMC has spend their US$2.750mm) US$3.750mm in ongoing developement. There are trenching results already from La Manchuria which was done by Barrick in 1996. This looks very promising and gives AMC an exploration story which has more potential and excitment than Niblack. AMC has hooked up with the two best "majors" in Teck and Barrick. The future looks very bright.

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