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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Walt who wrote (25991)	6/26/2000 4:27:00 PM
From: MrsNose	Read Replies (1) \| Respond to of 26850

Welcome back Walt. Here's WSP's reply. Margie Monday June 26, 4:19 pm Eastern Time Press Release SOURCE: Winspear Diamonds Inc. Winspear Board of Directors Responds to De Beers Cash Offer Announcement Trading symbol: WSP - TSE VANCOUVER, June 26 /CNW/ - (WSP - TSE) - Winspear Diamonds Inc. states that it is reviewing the announcement made today by De Beers of its intention to make a cash offer for all the shares of Winspear. The Board of Directors' initial view is that the offer is opportunistic, hostile, highly conditional and does not reflect the underlying value of Winspear. In addition, the offer does not constitute a permitted bid under Winspear's shareholder protection rights plan. While Winspear's Board of Directors awaits receipt of De Beers formal written offer, Winspear's management, Board of Directors and its advisors are making preparations to respond to the offer in the best interests of Winspear's shareholders. Winspear is reviewing all alternatives to enhance shareholder value and has retained BMO Nesbitt Burns and Blake, Cassels & Graydon LLP as advisors to its Board of Directors. De Beers offer appears timed as an attempt to acquire Winspear just as the viability of the Snap Lake project is being further evidenced. Winspear remains highly confident of its ability to finance, permit and develop the Snap Lake Project. Winspear Diamonds Inc. ``Randy C. Turner'' Randy C. Turner, P. Geo President and Chief Executive Officer