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Gold/Mining/Energy : REX DIAMOND MINING TSE:RXD -- Ignore unavailable to you. Want to Upgrade?

To: average joe who wrote (1799)	10/19/1999 10:21:00 AM
From: don jackson	Read Replies (1) \| Respond to of 2522

Rex Finds Second Kimberlite Drilling Program to Start Symbol: RXD Trading: Toronto Stock Exchange TORONTO, Oct. 19 /CNW/ - Rex Diamond Mining Corporation announced today, that a second kimberlite pipe has been found in its Tenoumer permit in Mauritania. The kimberlite was found by pitting into a circular aeromagnetic anomaly of 250 metres diameter. The kimberlite is 7.5 km away from the first kimberlite discovery. The company suspects several other targets to be kimberlite, but the rocks are too calcreted at surface and not recognisable as kimberlite in shallow pits. To test these calcrete occurrences at depth and many other magnetic targets, the company has decided to build up a core drilling team in Mauritania. The drillrig has been ordered and the drilling team is being built up to allow the company to sustain an ongoing drilling program. A Private Placement with 38 European investors of 1,500,000 units, consisting each of one common share and half a warrant exercisable at 4.00 CAD until September 30, 2000, has been closed at 2.50 CAD raising a total of 3,750,000 CAD to further strengthen REX's working capital.