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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: I Am Sandman who wrote (616)	3/29/2000 3:12:00 PM
From: I Am Sandman	Read Replies (2) \| Respond to of 1321

News Release Typos appear to be courtesy of Stockwatch -- don't hold it against IWA. Gold City and Int'l Wayside JV on Promise International Wayside Gold Mines Ltd IWA Shares issued 27,403,013 Mar 28 close $1.07 Wed 29 Mar 2000 News Release See Gold City Industries Ltd (GC) News Release Mr. J. Frank Callaghan reports The boards of directors of International Wayside Gold Mines Ltd. and Gold City Industries Ltd. have signed a letter agreement has been signed to form a joint venture on Gold City's Promise mineral claim group. The 2,125-hectare Promise group adjoins Wayside's Cariboo gold project near Wells, B.C. In exchange for acquiring a 75-per-cent joint venture interest in the Promise group, Wayside will make exploration expenditures of $50,000 on the claims prior to Dec. 31, 2001, and will deliver 25,000 free-trading common shares of Wayside to Gold City. The Promise joint venture is the second undertaking this year between the companies. On March 3, Gold City and Wayside announced in Stockwatch the formation of a joint venture (interest Wayside 75 per cent and Gold City 25 per cent) to explore the 275-hectare Myrtle and 250-hectare Proserpine properties, subject to approval by the property vendor, Newmont Exploration of Canada Limited. The Myrtle claim is contiguous with a new zone of gold mineralization recently discovered at the Cariboo gold project (Stockwatch March 23 2000). The new zone in the footwall of the B.C. vein, has been drill tested over a distance of 180 metres. Drilling is continuing, and assay results will be released as they become available. On surface, the B.C. vein is on Wayside's ground, 150 metres southeast of the Myrtle claim. The vein dips into the Myrtle claim below the 4000-foot elevation (1,500 level of the Cariboo gold quartz mine). All the subject properties are near Wells and the historic town of Barkerville in north-central British Columbia. This area was the terminus of the Cariboo Gold Rush (1961 to 1971), and the site of prolific placer gold production. Lode gold mining commenced 70 years later (1930s) and continued for 30 years. Previous recorded production from the mining camp and surrounding area is 3.9 million ounces of gold, of which 1.3 million ounces was lode and 2.6 million ounces was placer. Wayside is in the process of submitting an application to the B.C. Environmental Assessment Office to develop a 3,000 tpd open pit and underground gold mining operation at the Cariboo group site. Both parties are looking forward to exploration and development of the properties in this historic gold mining camp. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com