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

To: m.philli who wrote (2327)	12/5/2001 2:56:12 PM
From: Flea	Read Replies (1) \| Respond to of 2402

LOL. Now don't give them any ideas. Lookie here...now they're going for Quebec. They'll have all of Eastern Canada staked soon! Canabrava options with Majescor for Quebec diamonds Majescor Resources Inc CNB Shares issued 8,703,691 Dec 4 2001 close $.220 Wednesday Dec 5 2001 News Release Mr. George Plewes of Canabrava reports Canabrava Diamond is pleased to have entered into an option agreement with Majescor Resources regarding Majescor's new Mistassini project near the Otish mountains region in Quebec. The project totals 1,216 square kilometres with an additional 494 square km still pending approval with the Ministry of Natural Resources Quebec. This extensive land package stretches from the northern tip of Lake Mistassini to the western limit of the Otish mountains and is in close proximity to the winter road leading to the abandoned Eastmain gold mine. The area has seen intense staking activity in the last few months by numerous exploration companies including Ashton Mining Canada and its joint venture partner Soquem. Of significance, Ashton/Soquem recently drilled two kimberlitic bodies on their Otish property, 85 km north of Mistassini and adjacent to Majescor's Portage project. Reconnaissance sampling completed by Majescor during 2001 has identified a number of kimberlite indicator mineral dispersion trains, which have been successfully covered by the Mistassini claims. The newly identified indicator trains are distinct in terms of chemistry and assemblage from those occurring at Portage and therefore are indicative of a different source. The diamond potential of the Mistassini area is confirmed by the recovery of macrodiamonds from the nearby Beaver Lake kimberlite which is located less than five kilometres east of Mistassini. Under the terms of the agreement, Canabrava can earn a 50-per-cent interest in the Mistassini project by incurring $1.35-million in exploration expenditures within three years, paying $25,000 and issuing 100,000 shares to Majescor. Majescor will be the operator of the project and will propose work programs and budgets for approval by the management committee. The agreement is subject to regulatory approval and the shares issued to Majescor shall be subject to a 12-month hold period. Both parties are unrelated and no finder's fee will be paid.