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Gold/Mining/Energy : Montello Resources -- Ignore unavailable to you. Want to Upgrade?

To: JP who wrote (4182)	3/30/2000 12:24:00 PM
From: ddl	Read Replies (1) \| Respond to of 4256

As a matter of fact it is a little harder to figure than you say. The deal involves 2 claim groups, 1 of 5 blocks for 100% interest and 1 of 1 block for 30%. They then mention "claim" meaning 1 is close, BUT how large is that claim and is it key? A bit ambiguous if you ask me. Release: Montello Acquires 100% Interest in Claims Near Pacific North-West Capital (PFN-CDNX) Consolidated Excellerated Resources Inc. ("Excellerated") and Montello Resources Ltd. ("Montello") have reached an agreement whereby Montello will acquire a 100% interest in five claim blocks, and a 30% interest in one claim block which includes a commitment of three hundred thousand dollars in exploration expenditures over two years by Adventure Minerals Inc. The consideration for the acquisition will be the payment of $50,000 cash and the issuance of 200,000 shares in stages in accordance with the policies of the CDNX. Montello Resources and Consolidated Excellerated Resources will pay a finders fee in accordance with CDNX policies. These properties are known as the Kukagami Lake - Sudbury PGM Properties located near Sudbury, Ontario. The claims are road- accessible, which will assist with year-round exploration. Geologically, the claims are largely covered by the lower contact of the Nipissing Diabase, a potential host for platinum, palladium, and PGMs associated with copper-nickel mineralization. In more recent exploration, Falconbridge, BP minerals and others have identified a general relationship between copper-nickel sulphides and PGM values in the basal part of the Nipissing Diabase. In December 1998, Pacific North-West Capital (PFN-CDNX) announced assays from 3 grab samples from one outcrop, which averaged 4.5 g/t of palladium, 5.1 g/t platinum and 3.5 g/t gold Consolidated Excellerated's claim is approximately 100-200 meters north of this discovery. Since then a number of companies have become active in the area, which has rapidly developed into a platinum metals camp. The world's leading platinum producer, Amplats (American Platinum Corporation) has committed to spending $4.3 million over 5 years in the area. South African based Amplats, processes, refines and markets platinum and other platinum group metals. The presence of the world's leading platinum producer adds a strong endorsement to the Sudbury area. As well, analysts and newsletter writers are diligently following developments in the area, which has focused industry and investor interest on this PGM play. The proximity of these claims to Sudbury means a local infrastructure can aid both the research and the development of a potential deposit. Montello continues to evaluate and is negotiating to acquire interests in additional properties, details of which will be reported as agreements are concluded. ON BEHALF OF THE BOARD OF DIRECTORS MONTELLO RESOURCES LTD. Per: "Patrick Power" PATRICK POWER, President