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

To: Richnorth who wrote (1018)	4/27/2000 9:53:00 AM
From: Barry Tilley	Respond to of 1030

I guess the market didn't like the latest press release. Anyone got any comments?

To: Richnorth who wrote (1018)	4/29/2000 9:54:00 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: gmdgeo@portal.ca CDNX Symbol - "GMD" U.S. 12g3 Exemption #82-4071 News Release No. 225 April 28, 2000 NEWS RELEASE GMD Resource Corp. (the "Company") reports that the first installment amount of $200,000.00 due to the Company pursuant to an Agreement dated February 3, 1999 (as amended January 10, 2000) 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") has been paid. 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 then 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, as amended, which has been accepted by the regulatory authorities provides for repayment by Farrell of the principal amount plus interest for a total of $2,250,625.00 as follows; Amount of Installment on Account of Principal Amount Due Date (last day of applicable calendar month following closing) Month End Due Date $200,000 Paid - $300,000 Month 14 July 31, 2000 $250,000 Month 20 January 31, 2001 $250,000 Month 26 July 31, 2001 $250,000 Month 32 January 31, 2002 $250,000 Month 38 July 31, 2002 Balance outstanding including interest Month 44 January 31, 2003 LMX 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.