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Gold/Mining/Energy : Prospectors Alliance Corp. (PALL- CDN) -- Ignore unavailable to you. Want to Upgrade?

To: Just G who wrote (101)	9/29/2000 1:02:13 PM
From: Midas	Read Replies (2) \| Respond to of 187

Just G: Here is yet another press release. There sure is a lot of activity here all of a sudden! Midas International Larder Minerals Inc - Prospectors merger partner enters option agreement International Larder Minerals Inc LRDR Shares issued 44,769,406 Jun 23 1999 close $.020 Sep 29 2000 5:14:30 Mr. Jean-Claude Bonhomme reports Prospectors Alliance's merger partner Explorers Alliance has entered into an exploration option agreement with Pelangio Mines and Franco-Nevada Mining on certain mineral claims within the southern portion of the Pelangio/Franco-Nevada Detour Lake area landholdings (DLJV). Under the terms of the recent agreement Explorers has the option to earn an interest in two claim blocks designated as Block C and Block E. The claims cover approximately 3,552 hectares (14 square miles). Explorers can earn a 50-per-cent interest in the claim blocks by expending $500,000 over a four-year period. Once vested at 50 per cent Explorers can earn an additional 30-per-cent interest in the two blocks by expending a further $500,000 over three years. Pelangio and Franco-Nevada would each retain a 10-per-cent participating interest. Franco-Nevada reserves the right to convert its 10-per-cent interest to a 4-per-cent net smelter royalty on gold production and 1.5-per-cent net smelter royalty on all other minerals. Should Franco-Nevada elect to convert to a royalty interest Pelangio would retain a 20-per-cent participating interest. Recent compilation work has shown that Block C and Block E have excellent potential to host volcanogenic massive sulphide deposits and/or copper-zinc gold deposits. Previous exploration documented numerous significant occurrences of copper/zinc mineralization in drill core, within altered felsic volcanics. Explorers intends to focus its exploration work on the base metal potential. A program of relogging, assaying and lithogeochemical sampling of known mineralization in drill core is currently under way. PALL and Explorers are highly encouraged by the indicated potential of the Detour Lake area and plan to aggressively evaluate that potential. PALL and Explorers are in the process of finalizing financing negotiations with respect to their amalgamation, previously reported in Stockwatch on May 29, with International Larder Minerals and two other private companies, 1338756 Ontario and 1232448 Ontario.