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Gold/Mining/Energy : Primo Resources - PRI.VSE -- Ignore unavailable to you. Want to Upgrade?

To: gian piero ciambella who wrote (574)	8/18/2000 8:16:51 PM
From: gian piero ciambella	Read Replies (1) \| Respond to of 579

Will Primo Jopin the Russian submarine? NEWS RELEASE August 17 2000 ARGENTINA UPDATE On June 27, 2000, Golden Peaks Resources Ltd. erroneously reported that its joint venture partner, Primo Resources International Inc., elected not to participate in the Phase III Program on the Sierra de Las Minas and Los Dos Buhos projects. Primo has not yet made any election in respect of its participation in Phase III. Primo also has objected to the validity of a Phase III cash call purportedly made by Golden Peaks, the adequacy of geological and financial information provided to Primo by Golden Peaks in respect of Phase II and compliance by Golden Peaks with its obligations as operator. Golden Peaks has referred these issues to arbitration. Primo is continuing to conduct a review of the geological information disclosed to date and has demanded delivery of the delinquent audited financial statements of the joint venture. Golden Peaks also previously reported having assigned its interests in these projects to an Argentinean subsidiary. Golden Peaks has recently acknowledged this assignment was not valid. ON BEHALF OF THE BOARD DIRECTORS OF PRIMO RESOURCES INTERNATIONAL INC. “Georgia V. Knight” Georgia V. Knight, Director