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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY -- Ignore unavailable to you. Want to Upgrade?

To: Just G who wrote (254)	5/25/2000 9:58:00 AM
From: Just G	Read Replies (1) \| Respond to of 349

Aquiline private placement done; drilling to commence Aquiline Resources Inc AQI Shares issued 9,160,808 May 24 close $0.50 Thu 25 May 2000 News Release Mr. Marc Henderson reports Aquiline Resources has completed the private placement of special warrants announced April 3, 2000. Due to increased demand a total of 814,285 units were sold at 70 cents per unit for gross proceeds of $570,000. Each unit consists of one common share and one share purchase warrant. One share purchase warrant entitles the holder to purchase an additional common share at a price of 75 cents per share until May 31, 2001. Proceeds of the private placement will be used to fund continuing exploration of the company's palladium/platinum projects in the Sudbury area where the year 2000 field program is continuing. A drill contract for a minimum of 1,000 metres of diamond drilling on the company's East Bull Lake project has been let and drilling will commence the week of May 29, 2000. The target at East Bull Lake is a mineralized fault zone that extends across the property for 1.6 kilometres and will be tested initially by 6-8 drill holes. An recently completed induced polarization (IP) geophysical survey on the property indicated a strong anomaly concurrent with the fault zone structure and represents an excellent drill target. The East Bull Lake project is located within the southern half of the East Bull Lake layered mafic intrusive approximately 5 km to the west of Mustang Mineral's Bullfrog discovery. Mustang and Freewest Resources Canada Inc. are partners in the project. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com