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Gold/Mining/Energy : Minvita Enterprises Ltd. - MVE.v

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To: AriKirA who wrote (52)	5/26/1999 7:29:00 PM
From: AriKirA	Read Replies (1) of 56

Minvita Enterprises Ltd - Minvita signs new option agreement on Mountain Boy property Minvita Enterprises Ltd MVE Shares issued 6,842,121 1999-05-18 close $0.12 Wednesday May 26 1999 Mr. Dino Cremonese reports Minvita Enterprises has signed a new option agreement with Ranmar Ventures Ltd., optionee of the company's Mountain Boy silver property in the Stewart area of northwestern British Columbia. Under the terms of the new agreement, Ranmar may earn up to a 100 per cent interest in the property by paying to Minvita a total of $310,000 over a six year period. Minvita retains a 2 per cent net smelter royalty, subject to a buyback for $1-million. Ranmar reports that it spent approximately $500,000 on the property during the 1997 and 1998 seasons. Most of this work entailed construction and upgrading of an access road into the property from the Bear River Highway. A small X-ray drill program originally planned for the 1998 season has been postponed. Ranmar intends to seek public financing, directly or indirectly, to continue work on the Mountain Boy. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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