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Gold/Mining/Energy : JABA INC.(c.jba) -- Ignore unavailable to you. Want to Upgrade?

To: paunch13 who wrote (957)	12/23/2000 5:18:44 PM
From: Alex	Respond to of 1044

Message 15042577

To: paunch13 who wrote (957)	12/23/2000 5:26:30 PM
From: Chuca Marsh	Read Replies (2) \| Respond to of 1044

Paunch, I hues you didn't see this, then, egads it is now on the company website, jaba.com This GIF is just for you, it shows Jill, the day after she kicked you off for noth remembering your password, I suppose...or was it that the SI computer forgot your login words, either way, PGMs is why we started on these threads, would love to end up in a PT bang of some sort: siliconinvestor.com NEWS RELEASE 2000-9 December 18, 2000 NEWS RELEASE Consolidated JABA Inc. ("the Company") is pleased to announce that it has made application to acquire mineral exploration rights or concessions to explore for platinum group metals on 191,800 hectares or 1,917 square kilometers (473,938 acres or 740 square miles) located in Argentina. This is believed to be one of the largest unexplored layered ultramafic intrusive complexes in the world. Incidental to this the Company has entered into a letter agreement with Southwestern Gold Corp. ("Southwestern") to joint venture the exploration and development of this new property. Southwestern has advanced US$210,000 for acquisition and related costs to initially earn a forty-five per cent interest in all lands acquired. In addition Southwestern has agreed to a private placement of 150,000 common shares in the capital of the Company at a price of Cdn $0.40 per share. The proceeds of this placement will be used for general corporate purposes and working capital and is subject to Canadian Venture Exchange approval. The terms of the joint venture call for Southwestern to expend US $3,000,000, in addition to the initial payment, to earn up to a seventy-one per cent interest in the project. The earn-in period of three years will commence on the date of the award of concessions on the property. During the first eighteen months Southwestern may contribute US $1.15 million to earn an additional six per cent, bringing their interest to fifty-one per cent. During the next six months and within the first twenty-four month period Southwestern may contribute a further US $850,000 to increase its interest to sixty-one per cent. During the last twelve months of the three-year period Southwestern may contribute a further US $1,000,000 to increase its interest to seventy-one per cent. Notwithstanding the foregoing, after Southwestern has earned a fifty-one per cent interest the Company may elect to contribute its pro rata share of the ensuing years' budgets and thereby maintain its interest. If the Company chooses not to contribute as previously outlined and its interest is diluted to twenty-nine per cent at the end of the third year, its interest will be further diluted in the normal fashion, based on additional contributions by Southwestern. Upon being diluted to twenty-five per cent, the Company's interest will be converted to a twenty-five per cent carried interest with no further contributions required. Should another source of financing for mine development be sought and a binding agreement entered into by Southwestern, the Company's carried interest would be further reduced on a mine-by-mine basis to a twenty per cent carried interest, when a bankable feasibility study is completed for each mine. In connection with the foregoing the Company intends to pay a finders fee of 50,000 shares to an individual. ON BEHALF OF THE BOARD W. Brent Peters President -------------------------------------------------------------------------------- The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. PS- P.G.,M.s = 740 square miles) located in Argentina. This is believed to be one of the largest unexplored layered ultramafic intrusive complexes in the world.</b