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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (1475)	10/5/1999 8:49:00 AM
From: kidl	Read Replies (1) \| Respond to of 1707

Major General, Dia Met and Ascot finalize Homerun agreements Major General Resources Ltd MGJ Shares issued 39,262,163 Oct 1 close $0.17 Mon 4 Oct 99 News Release Also Ascot Energy Resources Ltd (AER) Also Dia Met Minerals Ltd (DMM.B) Mr. William Coulter reports The Dia Met/Major General/Ascot Resources letter agreements have been finalized. Dia Met Minerals has satisfactorily completed its due diligence in the 30-day period allowed since conditionally signing the agreements. Major General has received $24,374 for the Homerun property, while Ascot and Major General have each received $4,063 for the 50/50 Mariner property. Dia Met can earn a 51-per-cent interest in each of the properties by making exploration expenditures of $4.5-million and $2.5-million. Operationally, Dia Met has completed a substantial field program on the Victoria Island properties. On the Mariner joint venture, 542 till samples were collected and 34.3 line kilometres of ground magnetic surveys were completed. On the Homerun project, 445 till samples were collected. The 987 till samples are en route to CF Minerals Laboratory in Kelowna, B.C., where processing will begin shortly for diamond indicator minerals. CF Minerals Laboratory is operated by Chuck Fipke, a principal of Dia Met and a co-discoverer and part owner of the Ekati mine. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com