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

To: Gilbert Drapeau who wrote (770)	8/30/2000 2:25:48 PM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 905

TVX Gold Initiates Review of Strategic Alternatives TORONTO, Aug 30, 2000 (BUSINESS WIRE) -- TVX Gold Inc. (NYSE: TVX chart, msgs)(TSE: TVX. chart, msgs) announces the formation of a Special Committee of the Board of Directors to explore strategic alternatives with the goal of identifying opportunities to enhance shareholder value. To this end, the Company has engaged NM Rothschild & Sons as its exclusive financial advisor to assist the Committee in the process. The Committee, comprised of three independent directors, has been mandated to explore all options available to help achieve the stated objective of maximizing value to the shareholder. TVX Chairman Eike Batista said, "We believe the net value of the TVX's assets is worth substantially more than the current market capitalization of the Company. The Board will take all steps necessary to ensure that the shareholders are able to realize the underlying value of our assets. Further, all options will be considered and evaluated on their ability to help us achieve our objectives." In Greece, TVX is awaiting final approval of the Olympias project Environmental Impact Study. The study has received approval by the local Prefectural Council and final approval by the Ministry of Environment is expected shortly. TVX Gold Inc. is a precious metals mining company with interests in five operating mines in the Americas producing 250,000 gold equivalent ounces per year at a cash cost of $180 per ounce and a silver/lead/zinc mine in Greece. The Company also has two major projects, both with completed positive feasibility studies, in Greece: the Olympias Project, an advanced stage, world-class gold/silver/lead/zinc project in the final stages of permitting and the Skouries Project, a gold-copper porphyry deposit. The Company's attributable proven and probable reserves stood at 10.4 million gold equivalent ounces as of December 31, 1999. Forward Looking Statements Some statements in this press release contain forward looking information. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those projected. Visit the TVX Gold Web Site at: tvxgold.com All dollar amounts are expressed in US dollars, unless otherwise stated.