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Gold/Mining/Energy : Paramount Ventures & Finance -- Ignore unavailable to you. Want to Upgrade?

To: Yorikke who wrote (4299)	5/18/2000 9:18:00 PM
From: Lazarus Long	Respond to of 4884

Paramount Ventures and Finance Inc. progress report Paramount Ventures & Finance Inc PVF Shares issued 27,591,374 May 18 close $0.58 Thu 18 May 2000 News Release Mr. Paul Conroy reports The company has provided the following update on the company's activities in Canada and Brazil. Ontario joint venture On the Ontario joint venture, Kennecott Exploration Inc., completed a winter field exploration program consisting of high-resolution airborne and ground geophysics as well as drilling. The program was cut short by the early onset of spring weather conditions, which resulted in the loss of lake ice in early March. Only five targets were drill tested, including some that occur at the origin of a large indicator mineral plume. A number of positive samples have been identified in preliminary reports on the first batch of samples being processed from the sampling program completed on the Rocky Island Lake Project last year. Kennecott has advised the partners that the continued delays on completing the processing of these samples is due to the high abundance of heavy minerals in the concentrate. Final results will be reported as soon as they become available. Planning for the upcoming summer program is progressing well. The program will primarily focus on the Kap and Rocky Island Lake claims and will include ground geophysical surveys, follow-up indicator mineral sampling, prospecting and drilling. Rio do Sono Canabrava has notified the company that the Environmental Impact Study (EIS) on the Rio do Sono project, (located in the state of Minas Gerais, Brazil) has been submitted and the joint venture is awaiting the results of the review process. The project was initially stalled in the summer of 1999, when a public hearing associated with the environmental review ruled that the project was of sufficient size and scope to require a full EIS before a mining license could be issued. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com