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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: RRG who wrote (19726)	9/2/1999 5:57:00 PM
From: Kim W. Brasington	Read Replies (4) \| Respond to of 20681

To All: Naxos wishes to announce that the claims have been paid in full and are in good standing. These claims which total 528, cover approximately 25,000 acres (40 square miles) in the Amargosa Desert and constitute the Franklin Lake property. In keeping with management's program of expanded exploration at the Company's Franklin Lake properties, Death Valley Junction, California, Naxos announces that two plans of operation have been submitted to the Bureau of Land Management for approval as the first step towards starting drilling operations targeting the Lithium and other mineral potential on the property. The first plan calls for one hole to be drilled to a depth of one thousand feet located near the centre of the property, approximately 1 mile south west of the USGS hole drilled in 1980 and referenced in News Release 99-13. The second plan, which is contingent on positive results from the first hole, calls for 5 additional holes on a 1 kilometre spacing from the first hole. The purpose of these holes is to locate and sample the brines. Target dates for drilling operations are expected to commence in late September following anticipated approval of the plans of operation by the Bureau of Land Management and are contingent upon the timely availability of drilling and engineering personnel.