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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (936)	4/18/2002 9:50:17 PM
From: TrueScouse	Read Replies (1) \| Respond to of 1285

Wayne: Surprise,surprise... I just received the following PR from Cadre on a deal with Bateman of all people! If CSL gets assurance from the Venezuelan government of the right to acquire concessions, it looks like Bateman would not only finance the feasibility study but would also have the financial clout and expertise to take this thing right through to production. Is the long wait finally paying off? :^) Regards, Howy ===================== April 18, 2002 NEWS RELEASE R. Page Chilcott, the President of Cadre Resources Ltd. (the "Company") announces the signing of a Letter of Intent (the "LOI") between Cadre and Bateman Project Holdings Limited ("Bateman"). By this LOI, Bateman and Cadre together form a Strategic Alliance (the "Alliance") with the objective of developing mutually, the multi-product alluvial mineral-quartz/granite aggregate extraction project known as the Caroni River Project (the "Project"). Bateman contributes, to the Alliance, a unique and comprehensive blend of international financial capacity and facilitation, commercial and marketing skills, niche technology and engineering and project-management competencies needed to fully develop the Project. The proposed project will utilize clean and sustainable state-of-the-art dredging, slurry pipelines and recovery equipment over a Project life of + 50 years. Bateman and Cadre personnel representing the Alliance, in the company of international and renowned environmental experts, are currently in Venezuela meeting with authorities seeking approval in principle for the granting of permitting tenure. Subject to the concurrence of Venezuelan authority on the granting of satisfactory permitting assurances, the Alliance intends to participate in, and finance a Feasibility Study (the "FS"). The FS will include the compilation of earlier work; taking of samples, resource profiling, engineering and environmental impact studies (EIS), economic vitality and marketing opinions, long term ecologic sustainability, social equity and benefits to the local community. The FS will also examine project financing sources and alternatives. Subject to successful completion of that FS, cooperation of local interests and finance sourcing, the Alliance intends to fully develop and exploit the Project. CADRE RESOURCES LTD. Per: R. Page Chilcott, President