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To: scouser who wrote (7822)8/23/1999 9:20:00 AM
From: SSP  Read Replies (1) | Respond to of 150070
 
DENVER--(BUSINESS WIRE)--Aug. 23, 1999--SUN RIVER MINING, INC. (OTC BB: SUNR), announces the successful completion of the reverse circulation rotary drilling program at the Clavo Rico Project, Honduras.
Sun River geological personnel initiated the drilling program on August 2, 1999, and completed the planned drilling effort on August 13, 1999. The drilling was conducted by RR Perforaciones of Tegucigalpa, Honduras, and consisted of a total of 1,286 feet in twelve drill holes.
The primary focus of the program was on testing the bulk oxide gold potential in the mineralized shear zone. Drilling completed included several penetrations of the main Clavo Rico Shear Zone, as well as a preliminary drill test of the recently identified north extension.
Early assay results have been received and the balance of drill and surface samples is presently in progress. Company personnel have returned from Honduras and are working with the assay data as it becomes available. The resource analysis and economic evaluation is expected to be completed well ahead of the option exercise date of September 7, 1999.
For additional information regarding Sun River, see the Company's web site at www.sunrivermining.com (in revision, full update expected by September 1, 1999).

ON BEHALF OF THE BOARD OF DIRECTORS

Steven R. Davis President & CEO

Sun River Mining, Inc. 350 Indiana St., Suite 800 Golden, CO 80401 Tele: (303) 384-3415

--30--skj/cgo*

CONTACT: Sun River Mining, Inc.
Steven R. Davis, 303/674-3071
E-mail: geosrdavis@att.net



To: scouser who wrote (7822)8/23/1999 9:22:00 AM
From: SSP  Respond to of 150070
 
NAVR- MINNEAPOLIS--(BUSINESS WIRE)--Aug. 23, 1999--Navarre Corporation (Nasdaq NMS: NAVR) announced today that it has accepted an investment offer from Fletcher International Limited. The Company agreed to allow Fletcher to purchase a new class of convertible preferred stock.
Fletcher invested $8.5 million in Navarre Corporation, receiving 34,000 shares of Class B Convertible Preferred Stock at $250 per share. The Class B Convertible Preferred Stock is convertible into common shares at a rate based on the future common stock price movement to be calculated at the time of conversion or issuance of the Preferred Stock. From the Initial Closing Date until the six-month anniversary of that date, the conversion price will be at market price or $9.25 per share, which ever is greater. There is also a ceiling on conversion equal to 180% of the common stock price on the day prior to the issuance of the Preferred Stock. Fletcher also received a warrant to purchase an additional $4 million, or 16,000 shares, of Navarre's Preferred Stock.
The agreement also provides up to an additional $29 million investment over the next 3 years. Navarre has the right to require Fletcher to purchase an additional $8.5 million in Class B Convertible Preferred Stock over the next three years. In the event Navarre exercises this right, Fletcher will be granted a warrant to purchase up to an additional $4 million of Navarre's Class B Preferred Stock.
Eric Paulson, CEO and President of Navarre Corporation, stated "We were all very pleased that an International Investment Fund recognizes the value of Navarre, and is willing to make an investment in the Company at prices higher than the current market. Navarre will use this new capital to create a 'war chest' to expand and accelerate our core businesses' expansion into traditional and digital distribution."
Under specified conditions, Fletcher has the right to invest an additional $8.5 million for Class B Preferred Stock over the next 3 years. If Fletcher exercises this right, Fletcher will be granted a warrant to purchase an additional $4 million of Class B Preferred Stock. If either party fails to exercise its respective right, the other party will have a rollover right pursuant to which it can require the issuance of $12.5 million of Class B Preferred Stock. All Preferred Stock is convertible to Common Stock at the then market price. There is no dividend attached to the Preferred Stock.
Fletcher International Limited is an investment fund managed by Fletcher Asset Management, Inc. of New York. Fletcher makes direct investments in a wide range of established and growing companies, including the Netherlands software firm, Baan Company NV, into which it recently agreed to invest up to $70 million. Fletcher's investments are made to provide capital to companies so that they may productively pursue their strategic plans and to assist those companies in creating value.
Wit Capital Corporation (Nasdaq: WITC) which served as agent to Navarre in connection with the placement, is an online investment banking firm. With offices in New York and San Francisco, Wit Capital is an issuer-driven, Internet-centric company that offers a rapidly expanding array of investment banking services, including underwriting for public offerings, private equity services, strategic advisory, and institutional quality research. Wit Capital also offers individual investors online brokerage services that include access to IPOs and other securities.
Navarre Corporation, a Russell 2000 Index and Russell 3000 Index stock, operates one of the first "business to business" Internet E-Commerce web sites www.navarre.com and provides fulfillment for both traditional and E-Commerce retail sites. Navarre's major business groups are: Computer Products Division which distributes quality consumer software to retailers nationwide; Independent Music Distribution which is the distributor of independent music labels in the United States and now Canada; Alternative Retail Markets which distributes major label music to non-traditional retail outlets, and also distributes DVD Home Video product; and the majority-owned subsidiary NetRadio.com, which is a leading Internet radio network, featuring 120 channels of originally programmed audio content at netradio.com and its online store CDPoint.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created hereby. Statements in this release that are not strictly historical are "forward looking" statements which are subject to risk and uncertainty. Investors are cautioned that all "forward-looking" statements contained herein may not be reasonable and assumptions could be inaccurate, and should not be construed, considered or assumed as guarantees. The inclusion of such information should not be regarded as a representation or guarantee by the Company, or any other person, that the objections and plans stated herein will be achieved. Unknown factors could cause actual results to differ as well as other risks detailed in the Company's reports filed with the Securities and Exchange Commission, including its prospectuses, and Forms 10-K and 10-Q filings.



To: scouser who wrote (7822)8/23/1999 9:25:00 AM
From: SSP  Respond to of 150070
 
MDHM-LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Aug. 23, 1999--Medinah
Mining, Inc. issues the following summary audit statement of findings
as prepared by Mr. Robert Cinits, Managing Geological Consultant for
Howe Chile Ltda., a subsidiary of ACA Howe International.

"Medinah's Lipangue and Dos Marias properties represent excellent
targets to host large tonnage, bulk mineable gold and/or copper/silver
mineralization at relatively shallow depths and these targets remain
open in most directions and could be larger in extent than currently
exposed."

The basis for Howe Chile Ltda. conclusions were arrived at upon
examination of the IP studies, geophysical exploration, and drilling
programs conducted under the supervision of Gordon House, P.Geo. in
1998 and 1999.

Discovery of significant gold-copper breccia pipe

Early stage exploration by Medinah over the Lipangue property
area uncovered a significant gold-copper mineralized hydrothermal
breccia pipe that outcrops on surface over an area of about 150 by 100
meters and has been traced by diamond drilling. An IP Resistivity
survey indicates that the breccia continues as an east plunging body
at least another 400 meters. The copper mineralization appears to be
primary, associated with chalcopyrite; however, significant quantities
of secondary enrichment chalcocite were observed. The Lipangue breccia
area also hosts gold-bearing quartz veins that have not been explored
by Medinah. Typically, these veins are narrow but are often very
high-grade. Sections of these veins reportedly graded as high as
50-100 grams of gold/tonne.

50-100 Meters wide plus 700 meters gold bearing shear zone

The first three phases of work at Las Dos Marias have uncovered a
northwest trending, 50-100 meter wide auriferous (gold bearing) shear
zone that can be traced on surface approximately 700 meters and
remains open in all directions. This target has been explored on a
preliminary basis, including two widely spaced drill holes. Analytical
results of two 1-meter samples taken by Medinah yielded 61.77 and
122.2 grams of gold/tonne.

Confirmation sampling of high-grade gold assay

A quarter core repeat sample by Howe (sample 51880) of the
interval 69-70 meters, returned a spectacular 455.02 grams of
gold/tonne. Howe took numerous 1/4 core confirmation samples that were
assayed at Howe's direction at an independent laboratory chosen by
Howe.
The second main target on the Las Dos Marias property occurs as
strata-bound or manto replacement skarn copper mineralization. The
individual mantos are not more than a few meters thick, but are
vertically stacked, copper-rich horizons, throughout the stratographic
sequence, the true thickness of which has yet to be determined.
Howe makes exhaustive work recommendations to further the
exploration and development projects that are now underway and
implemented by Gordon House, P.Geo. Included in these recommendations
are combined airphoto and landsat structural interpretation, gridding
and topography, geophysics and diamond drilling programs for both the
Las Dos Marias and Alto de Lipangue projects.
A summary of the text of this extensive and corroborating report
of the work done by Gordon House, P.Geo and our discoveries in Chile,
will be made available on the website.

On behalf of the Board of Directors

Per: Larry Regis, President

For further information, contact RGM Communications Inc. at
1-800-547-9375; 1-800-774-5133; or access the web site at
medinahmining.com

Note: This News Release may contain certain "forward-looking
statements" within the meaning of the United States Securities
Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and
reserves, exploration results, and future plans and objectives of
Medinah Mining, Inc. are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future
could differ materially from those anticipate in such statements.
Important factors that could cause actual results to differ materially
from the Company's expectations are disclosed under the heading "Risk
Factors" and elsewhere in documents filed from time to time with the
United States Securities and Exchange Commission and other regulatory
authorities.

--30--flb/ny*

CONTACT: RGM Communications Inc.
1-800-547-9375; 1-800-774-5133
medinahmining.com