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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (21134)	12/14/1999 7:50:00 AM
From: DR. MEADE	Respond to of 25548

PR NEWSWIRE) Bema Gold Corporation announces strategic alliance with Ecua Bema Gold Corporation announces strategic alliance with Ecuadorian Minerals Corporation closes VANCOUVER, Dec. 13 /CNW-PRN/ - Further to Bema Gold Corporation's (''Bema') November 1, 1999 news release, regulatory approval has now been received for the respective issuance of shares by Bema and Ecuadorian Minerals Corporation (''EMC') as part of the strategic alliance formed to advance EMC's properties in Ecuador and Peru. Bema has acquired 3.8 million units of EMC at a price of C$1.33 per unit. Bema issued 3.28 million common shares to EMC in payment of the C$5.05 million purchase price for the units. Each unit consists of one common share and one-half of a common share purchase warrant. Each common share purchase warrant entitles Bema to purchase one EMC common share at $2.00 for two years. In addition, Bema has a first right of refusal on any joint venture or other disposition of any of EMC's properties and on any financing by EMC. Bema's acquisition of the EMC shares is for long-term investment purposes and will result in Bema owning 7% of EMC's shares on an issued and outstanding basis and 9.1% on a fully diluted basis. Bema looks forward to working closely in the future with EMC and to establishing a long term, mutually beneficial business relationship. Bema Gold Corporation produces gold in Chile, and explores for gold in Canada, Chile, Russia, the United States and Venezuela. The common shares of Bema are listed for trading in Canada on The Toronto Stock Exchange and the Canadian Venture Exchange and in the United States on the American Stock Exchange under the symbol ''BGO'. On behalf of BEMA GOLD CORPORATION ''Clive T. Johnson' Chairman, C.E.O., & President Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. SOURCE Bema Gold Corporation -0- 12/13/1999 /Contact: Investor Relations (604) 681-8371 or toll-free 1-800-316-8855; website: www.bema.com To request a free copy of this organization's annual report, please go to www.newswire.ca and click on reports(at)cnw/ (BGO. BGO) CO: Bema Gold Corporation ST: British Columbia IN: MNG SU: -30-