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

To: Dave R. Webb who wrote (1024)	1/12/2001 11:42:43 PM
From: Richnorth	Respond to of 1030

CDNX Symbol - “GMD” U.S. 12g3 Exemption #82-4071 News Release No. 234 January 12, 2001 NEWS RELEASE DISPOSITION OF THE DISCOVERY GOLD PROPERTY, NORTHWEST TERRITORIES GMD Resource Corp. (“the Company”) reports that it has, subject to regulatory approval, entered into an agreement with Tyhee Development Corp. (“Tyhee”) wherein Tyhee can acquire GMD’s Discovery Gold Property, Northwest Territories, Canada. Tyhee also has the opportunity to acquire additional property in the vicinity of the Discovery Property which will be subject to this royalty. The terms and conditions of the Discovery Sale and Purchase Agreement are as follows; Total consideration $265,000 payable as follows: (a) $53,000 on closing; (b) $132,500 on or before the day which is 90 days after the closing date; and (c) $79,500 on or before the day which is 220 days after the closing date Plus a Net Smelter Royalty over the Discovery Property and all contemplated acquisitions as follows:  ¾% for the first five years or until recovery of plant capital whichever occurs first and thereafter:  1% up to a gold price of $300.00 per ounce  1 ½% from a gold price of $300.00 to $350.00 per ounce  1 ¾% from a gold price of $350.00 to $500.00 per ounce; and  2 ¼% above a gold price of $500.00 per ounce. The royalty may be reduced by 50% for a $1,000,000 payment. The Ormsby Zone’s Indicated “In Situ” resource base as calculated by V. Pratico P. Geol (Alberta) and reviewed by Dr. Michael Cunningham, P. Geol (NWT) is as follows: Tonnes Grade, gold gpt Contained ounces gold Indicated Resource 396,000 19.97 254,000 Inferred Resource 402,000 20.12 260,000 The above Ormsby Zone resource calculation conforms to the Mineral Resource Classification Guidelines published in National Instrument 43-101 as adopted by participating Provincial Securities Exchange Commissions and applicable in British Columbia. The Ormsby Zone remains open along strike and down dip, constrained to the lithon which is 1,400 meters long and 120 to 240 meters wide. For further information contact Investor Relations at (250) 382-5562 or 1-800-808-3350. GMD RESOURCE CORP. “Rodney N. Duncan” Rodney N. Duncan President The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

To: Dave R. Webb who wrote (1024)	1/13/2001 12:03:01 AM
From: Richnorth	Read Replies (1) \| Respond to of 1030

I will greatly appreciate it if you would kindly confirm the following:- 1. You have resigned from the Board of GMD so that you could buy GMD's gold property for Tyhee; 2. Way back in 1995 you were responsible for persuading GMD to sink ~$10,000,000 (ten million) into exploration and drilling of the Ormsby gold property. The upshot of it all was that only about 250,000 oz. of gold was indicated. And now, you have negotiated to enable Tyhee to buy it for less than a million bucks. This looks like a fishy deal to me. Ain't this a steal? Care to comment on this?