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Gold/Mining/Energy : Black Swan -- Ignore unavailable to you. Want to Upgrade?

To: Dale Kohler who wrote (3160)	10/25/2000 3:58:45 PM
From: Dale Kohler	Read Replies (1) \| Respond to of 3186

Still watching, still hoping they find a bunch of beautiful diamonds...and don't put them in their back pocket. VANCOUVER, Oct. 6 /CNW/ - Black Swan Resources Ltd. announces that, at its Annual General Meeting held on September 29, the following directors were re-elected: Mr. Stephen L. Fabian (President), Mr. Bryce Porter (non-executive Chairman), Dr. Roger Morton and Mr. Francis Johnstone. Mr. Luigi Giglio withdrew his nomination prior to the meeting. Test operations are commencing at the new processing plant constructed on the Fazenda Marques property, directly upstream from Gamela. Some delays occurred due to start-up problems that have now been overcome. Design changes to suit conditions on sight have been effected. Trenching and stockpiling of diamond prospective gravels is ongoing and bulk sampling is scheduled to begin shortly. Black Swan is in the fortunate position of having all the necessary permits for trial mining on its 100% owned properties along the Paranaiba River, including Fazenda Marques. Preliminary results from the sampling program are expected next month. Black Swan is continuing to make progress towards realizing the security it holds in respect of a US$2 million investment made in 1999 in a diamond trading transaction, together with interest and costs. Under a Pledge and Security Agreement completed by Mr. Giglio, the Company currently holds a certificate for 23,006,116 of Black Swan's common shares. Required notices have been served on Mr. Giglio and notice periods have expired. The Company is in detailed discussions with several parties interested in acquiring Mr. Giglio's shareholding. Further information will be released when offers have been received and evaluated.