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Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto)
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To: M5PRO who wrote (22)3/6/1997 5:51:00 PM
From: Brad Rylott   of 350
 
Here is the reason for todays big volume. I've been following wheaton for quite a while and jumped in today with the spike in
volume (premature ??) I will try to get some further info at the
upcoming PDAC in Toronto.

FOR FURTHER INFORMATION PLEASE CONTACT:
Wheaton River Minerals Ltd.
Ian J. McDonald
Chairman and Chief Executive Officer
(416) 860-0919

------------------------------------------------------------------------

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS

FOR: WHEATON RIVER MINERALS LTD.

TSE SYMBOL: WRM

MARCH 6, 1997

Wheaton River Announces Private Placement

TORONTO, ONTARIO--Wheaton River Minerals Ltd. is pleased to
announce that it has agreed to a private placement with Glencairn
Explorations Ltd. of 1,650,000 shares at $0.65 for gross proceeds
of $1.07 million. Glencairn intends to sell 1,650,000 shares of
Wheaton River which it currently owns in order to raise the funds
necessary to complete the private placement. After the completion
of these transactions, Wheaton River will have cash and marketable
securities on hand of approximately $3.2 million. The funds will
be used for general working capital. This amount is supplemental
to the recently negotiated US$11 million Golden Bear project
financing with BZW Mining and Metals, a division of Barclays Bank
PLC of London, England.

In other news, Wheaton River announces that it is in negotiations
to sell its control position in YGC Resources Ltd..
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