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To: SSP who wrote (28007)	2/15/2000 4:46:00 PM
From: SSP	Read Replies (1) \| Respond to of 150070

Sikaman Announces Divestiture Of Mining Division To GeoNova Explorations Inc. And Continuation Of Internet Operations Under SKG Interactive Inc. PORT PERRY, ONTARIO--Sikaman Gold Resources Ltd. ("Sikaman") (SKG:TSE) and their wholly owned subsidiary SKG Interactive Inc. ("SKG Interactive"), today announced they have entered into a letter of intent to divest of their mining assets and reposition the company as a leader in the development and delivery of premiere online retailing properties and the further expansion of NorstarMall.ca in the North American marketplace. Sikaman will divest it's mining assets, namely, their 50% interest in the Hebecourt-Magusi project, to GeoNova Explorations Inc. ("GeoNova") (GNE:ME) for 19,000,000 common shares of GeoNova at a price of $0.30 per share. It is the intent of Sikaman that these shares will be distributed to existing Sikaman shareholders, on the basis of approximately 1 GeoNova common share for every 10 Sikaman common shares currently held by each shareholder. Finalization of these divestiture arrangements and continuation of the Internet operations under SKG Interactive will require approval by regulatory authorities and will require board approval. Sikaman expects to conclude this transaction within sixty days, pending the necessary due diligence, legal documentation, board and regulatory approvals. Assuming that the sale and other arrangements and approvals are completed, Sikaman will continue operations as SKG Interactive Inc. Paul Romanchuk, Chairman and Chief Executive Officer of Sikaman and SKG Interactive, commented, "As indicated previously upon our initial entry into the Internet industry, we have been conscious of the fact that a long term combination of mining and Internet operations under one listed entity would not serve the best interests of our shareholders or clients. Therefore, in order to maximize shareholder value and eliminate any confusion with respect to the focus of SKG, we have determined that we have the ability to provide for the expected growth and development of SKG based upon the strength of the current Internet operations and achieve results that we expect will be superior than in any other industry." He also indicated, "We are prepared to be judged on our performance in the Internet area, and we feel that we have a track record which is clearly evolving as a leader in our field of endeavour." Mr. Romanchuk also commented "We are extremely pleased to conclude this transaction with GeoNova as we expect that with the addition of our project and other recently announced initiatives, GeoNova has the potential to become a domestic producer and create the value that we expected to achieve for our shareholders." Created in 1994, GeoNova Explorations Inc. is a dynamic mining exploration company which, in less than five years, has drill-indicated resources of approximately one million ounces of gold. GeoNova was named Prospector of the Year in 1997 by the Quebec Prospectors Association, and the company holds participations in several properties located in Lebel-sur-Quevillon, Matagami, Chibougamau and on the Eastmain River in northwestern Quebec, as well as Manitou Lake near Sept-iles. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Sikaman Investor Relations Tel: (905) 985-9687 Fax: (905) 985-8238 investorinquiries@sikaman.com Website: sikaman.com