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Gold/Mining/Energy : GMD RESOURCE -- Ignore unavailable to you. Want to Upgrade?

To: Richnorth who wrote (992)	1/5/2000 7:25:00 PM
From: Dave R. Webb	Respond to of 1030

The Ormsby Zone bears some similarities to Con and Giant, and have some differences. Depends on who you talk to whether you focus on the similarities or the differences. Dog's breakfast is how one might describe the mineralization at the Dome Mine in Timmins, or the Campbell Mine in Red Lake. Gold in many different settings, many different rocks, many different orientations. Both multimillion ounce gold deposits. Dog's breakfast? I'll take one of each please. Dave

To: Richnorth who wrote (992)	1/10/2000 7:55:00 PM
From: Richnorth	Read Replies (1) \| Respond to of 1030

GMD RESOURCE CORP. Suite 1650 - 999 West Hastings Street, Vancouver British Columbia V6C 2W2 Telephone: (604) 662-3350 Facsimile: (604) 669-1605Toll Free: 1-800-808-3350 E-mail: rduncan@helinet.com CDNX Symbol - "GMD" U.S. 12g3 Exemption #82-4071 News Release No. 218 January 10, 2000 NEWS RELEASE GMD Resource Corp. (the "Company") reports that it has granted a 60 day extension to each of the due dates contained in an Agreement dated February 3, 1999 between the Company and Farrell Financial Ltd., Variety Investments Ltd., (two private companies owned by Don Farrell), and Don Farrell the former president of the Company (collectively "Farrell") with regard to the repayment of the non arm's length loan by the Company to LMX Resources Ltd. ("LMX") against payment of $50,000.00 (received) which payment will be applied against the first installment amount of $200,000.00 due to GMD pursuant to the agreement. The advances to LMX, a company listed on the CDNX with four former officers and directors in common with the Company, were used to fund exploration and development expenditures on natural resource properties held by LMX. The advances were unauthorized, not approved by the Company's Board of Directors and were in violation of the Vancouver Stock Exchange (now CDNX) regulations and the Company Act. The February 3, 1999 agreement, which has been accepted by the regulatory authorities and the LMX shareholders, provides for repayment by Farrell of the principal amount plus interest of $2,250,625.00 as follows; Amount of Installment on Due Date (last day of applicable Account of Principal Amount calendar month following closing) $200,000 Month 7 $300,000 Month 12 $250,000 Month 18 $250,000 Month 24 $250,000 Month 30 $250,000 Month 36 Balance outstanding including interest Month 42 Each of these dates are now extended by sixty days (60) and the installment amount due and remaining to be paid on the first payment now due in month 9 (February, 2000) stands at $150,000. All the other terms and conditions of the February 3, 1999 agreement remain in full force and effect including GMD's rights in the event of default in payment at any time. LMX has issued 10,000,000 treasury shares to Farrell regarding the LMX loan. The Company will receive 90% of the proceeds of sale of the LMX shares. The LMX shares issued are held by an escrow agent appointed by GMD. If Farrell defaults GMD can take delivery of the shares and dispose of them subject to a right of first refusal to LMX's management. For further information please contact Investor Relations at (604) 669-6619 or 1-800-808-3350. GMD RESOURCE CORP. "Rodney N. Duncan" Rodney N. Duncan President The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.