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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks! -- Ignore unavailable to you. Want to Upgrade?


To: Alan Whirlwind who wrote (1205)10/8/1999 1:37:00 PM
From: Scripts  Read Replies (1) | Respond to of 1348
 
Attention Business Editors:

United Keno Hill Mines Limited

TORONTO, Oct. 8 /CNW/ - A secured lienholder in the Yukon
recently
brought an application for an Order to realize on its 1997 judgement
through
the sale of certain of the Company's mining properties. Through
inadventure,
Notice of these proceedings was not received in Toronto and the
creditor was
able to obtain judgement in the absence of representation on the
Company's
part.
The Company has a period of ninety (90) days from the date of
judgement
to pay off the secured amount plus accrued interest (approximately
$110,000)
and redeem its property interests.
The Company continues to seek the financing it requires to
return its
Elsa silver operations to production with the assistance of Corinth
Capital
Inc. of Toronto. The Company is confident it can arrange the needed
financing
and, as part thereof, deal with this creditor problem in the Yukon
within the
time frame imposed by the facts.

%SEDAR: 00003279E
-0- 10/08/1999

For further information: Gerald J. Gauthier, President and Chief
Executive Officer, United Keno Hill Mines Limited, Tel: (416)
360-5575, Fax: (416) 360-4419