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Gold/Mining/Energy : Int'l Freegold Mineral Development Inc./ITF/VSE -- Ignore unavailable to you. Want to Upgrade?

To: Just G who wrote (280)	6/23/2000 9:54:00 AM
From: Brumell	Respond to of 298

Int'l Freegold acquires additional Sudbury properties International Freegold Mineral Dev Inc ITF Shares issued 30,295,059 Jun 22 close $0.25 Thu 22 Jun 2000 News Release Mr. Harry Barr reports International Freegold Mineral Development has acquired two additional platinum group metal (PGM) properties in the Sudbury mining division in Ontario. The Sudbury area has recently become the focus of an exploration and staking boom, as a result of recent PGM discoveries by other companies in the area. Most recently, Pacific North West Capital Corp. (PFN) intersected significant platinum group metal values in 13 of 13 holes drilled in the Dana Lake area, River Valley property. Historically, the Sudbury mining district has produced in excess of 20 million ounces of PGMs as a byproduct of nickel-copper production. Sudbury is home to Inco and Falconbridge, the largest nickel producers in the world. Currently, both the Inco and Falconbridge smelters have excess processing capacity. Freegold's properties are located within 20 to 80 kilometres of Sudbury and are all road accessible. Consideration for acquiring the two properties is as follows. Cash payments totalling $24,000 and the issuance of 55,000 shares. The properties are subject to a 3-per-cent net smelter royalty with a buyback provision for up to 2-per-cent nsr. A finder's fee will be paid. All of the aforementioned are subject to regulatory approval. Exploration is currently under way on Freegold's other Sudbury properties and a detailed report with specific recommendations for each project is currently being compiled. Exploration programs will include geological mapping, prospecting, sampling, trenching, geophysics and drilling. Freegold has entered into an consulting services agreement, dated for reference March 15, 2000, with Paul Searle (the consultant). Under the agreement, the company has retained the consultant to provide consulting services as required (collectively the services). The brokered private placement announced in Stockwatch April 13, 2000, of up to 6.75 million special warrants of the company at a purchase price of 75 cents per special warrant for a total of $5,062,500 has been cancelled.