Hello Eyewatch
Can't say I blame you. As it turns out, with all of the turmoil at SUF this year, Chris Jennings was not involved in selecting the Yamba Lake drill targets, which pretty much makes their efforts this spring a complete waste of time and money.
However, CJ is back in charge of SUF after a coup at the AGM, and this NR may be of interest (if you are not already aware of the info.)
MILL CITY INTERNATIONAL INC.
____________________________________________________________________________________
Web Site: www.millcitygold.com 10655 Southport Road S.W., Ste. 700
E-Mail: millcity@cadvision.com Calgary, Alberta T2W 4Y1
PRESS RELEASE
YAMBA LAKE, NORTHWEST TERRITORIES
CALGARY, ALBERTA ? June 9, 2000 - MILL CITY INTERNATIONAL INC. (MIY-CDNX) (MIYN-OTC) ("Mill
City") together with joint venture partners TANQUERAY RESOURCES LTD. (TQY-CDNX) and TECHSITE
STRATEGIES CORP. (TSS-CDNX) formerly CYPANGO VENTURES LTD. have been advised by SOUTHERNERA
RESOURCES LTD.(SUF-TSE) of the results of the spring drilling program.
Drilling commenced in April, on six separate targets on the 152, 506 acre claim block in the Yamba Lake Area of the
Northwest Territories. A total of seven holes were drilled by SouthernEra and kimberlite was encountered in one target
area. A second hold drilled into the anomaly confirmed that the kimberlite was a small dyke, and therefore, did not merit
further testing. Kimberlite was not encountered in the remaining five target areas.
SouthernEra have advised the partners that upon completion of a comprehensive review of all data obtained to date plus
investigating the availability of new techniques currently being employed by others in the area, exploration on the property
will re-commence in the summer.
SouthernEra has the right to earn a 51% interest in the property by expending $10 million on or before December 31,
20002. Once SoutherEra has vested at 51%, the remaining interests in the property would be Tanqueray ? 19%, Mill City
? 19% and Techsite 11%.
FOR FURTHER INFORMATION PLEASE CONTACT:
MILL CITY INTERNATIONAL INC. Larry D. Revitt, President
Tel: (403) 640-0110,
Fax: (403) 640-4024
Signed "Larry D. Revitt"
____________________________________
Larry D. Revitt, President
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this
Release.
Note, SUF will be back this summer and this time CJ will be involved in target selection. I would not be selling my shares just yet, whether you believe in E-carrats or not.
On that subject, their NR in February indicated that the E-carrats target start up date was June 30th:
MILL CITY INTERNATIONAL INC.
______________________________________________________________________________
Web Site: www.millcitygold.com 10655 Southport Rd. S.W., Ste. #700
E-Mail: millcity@cadvision.com Calgary, Alberta T2W 4Y1
PRESS RELEASE
MILL CITY TO ACQUIRE E-CARATS.COM
CALGARY, ALBERTA, February 21, 2000 - MILL CITY INTERNATIONAL INC. (MIY-CDNX);
(MIYNF-OTC) ("Mill City") announces that this date it has entered into a letter of intent to
acquire soon to be launched on-line diamond broker e-carats.com. Under the agreement, Mill City will be
acquiring a fully operational e-commerce Web site enabling the public to purchase polished diamonds on-line
at wholesale prices complete with search capability, customer service and diamond education pages for
the consumer.
Mill City has agreed to issue 4.7 million shares based on a value of $0.13 per share to acquire e-carats.com
at such time as the Web site is complete. Under the letter of intent the fully operational Web site is to be
completed on or before June 30, 2000. The completion of this contemplated purchase is conditional upon
satisfactory due diligence and obtaining any regulatory approvals.
On the diamond exploration front, Mill City and joint venture partners anticipate an extensive drilling
program to commence next month on their Yamba Lake diamond exploration project in the Northwest
Territories. On March 14, 2000, there will be a presentation in Calgary by Howard Bird of SouthernEra
Resources prior to Mr. Bird travelling to the Northwest Territories to supervise the winter drilling program.
FOR FURTHER INFORMATION PLEASE CONTACT:
James R. Brown, Chairman or
Larry D. Revitt, President
Tel: (403) 640-0110, Fax: (403) 640-4024
Signed "Larry D. Revitt"
_______________________________
Larry D. Revitt, President
The Canadian Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this
Release.
And MIY's March 31st Quarterly report states:
MILL CITY INTERNATIONAL INC.
QUARTERLY REPORT
FORM 61
March 31, 2000
SCHEDULE C: MANAGEMENT DISCUSSION
During the first quarter of fiscal 1998, the Company, together with Tanqueray Resources Ltd.
(?Tanqueray?) and Cypango Ventures Ltd. (?Cypango?) entered into a Letter of Intent with SouthernEra
Resources Ltd. (?SouthernEra?) pursuant to which SouthernEra has the right to acquire a 51% undivided
interest in the 152,506 acre Yamba Lake Claim Block, which claims are located adjacent to and north of
the DiaMet/BHP property in the Northwest Territories. SouthernEra can earn its 51% undivided interest by
expending $10,000,000 on or before December 31, 1999, with the additional $9,000,000 to be spent on or
before December 31, 2002. On or about March 15, 2000, SouthernEra commenced its winter exploration
on the property comprised initially of ground geophysics followed by drilling which commenced April 16,
2000. Drilling is expected to continue until spring break-up and it is anticipated that 8-10 holes will be
drilled during that period of time.
During the third quarter, the Company made application for the re-pricing of existing stock options and
granting new stock options to directors, officers and employees at a price of $0.10 being that minimum
exercise permitted under the policies of the Canadian Venture Exchange (the ?Exchange?). The Exchange
has approved such repricing and new options subject to any shareholder approval required in accordance
with the rules and policies of the Exchange.
On February 21, 2000 the Company announced that it had entered into a letter agreement pursuant to which
it will acquire the soon to be launched on-line diamond broker e-carats.com. Under the agreement, the
Company will be acquiring a fully operational e-commerce Web Site enabling the public to purchase
polished diamonds on-line at wholesale prices complete with search capability, customer service and
diamond education pages for the consumer.
On March 31, 2000 the Company received full and complete payment of all funds owing from Alberta
Aerospace Corporation pursuant to that debenture security previously granted to and in favour of the
Company. This payment to the Company was approximately $350,000 and has been added to the
Company?s working capital.
During the quarter and up to present, the Company has not entered into any investor relations agreements
or contracts. The Company?s investor relations personnel, directors and officers communicated with
private individuals and stock brokers, talking about the merits of our Company?s future that promote or
could be reasonably expected to promote the purchase or sale of securities of the Company.
So I suppose if the June 30th date is maintained, we should be hearing something by month's end and possibly a bit of promotion is in the works. I have not checked on that however, but hopefully Larry is not going to launch a new venture without fanning the flames a little.
That might explain the pick up in trading over the past month.
Time will tell.
Good luck.
Vaughn |
