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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: hx4 who wrote (7780)	4/15/2002 9:42:38 PM
From: Al Collard	Respond to of 11802

NVR-v...in the news: Navigator Exploration to sell option agreement interest Mon 15 Apr 2002 Property Agreement The TSX Venture Exchange has accepted for filing documentation relating to Navigator Exploration's disposition of an interest in an option agreement made originally on Jan. 18, 1999, between the company and Tyler Resources Inc., pursuant to which the company has the exclusive right and option to earn up to a 50-per-cent interest in the Crystal property by incurring exploration expenditures totalling $1.75-million before Dec. 31, 2002, and a further right and option to earn up to a 70-per-cent interest in the property by incurring total exploration expenditures of $5.25-million before Jan. 31, 2007. The disposition takes the form of an arm's-length disposition under an option agreement (the Wheaton option) dated March 15, 2002, made between the company and Wheaton River Minerals Ltd., pursuant to which Wheaton may acquire up to a 50-per-cent interest in the company's first option interest in the Crystal property, a diamond prospective property located in south Lac de Gras, Northwest Territories. Wheaton may earn up to a 17.14-per-cent interest in the first option (representing an 8.57-per-cent interest in the property) by incurring $300,000 in exploration expenditures on or before May 10, 2002. Upon the earning of such interest, Wheaton shall be entitled to elect to convert the interest it has earned in the first option into shares of the company on the basis of one share for each 65 cents of exploration expenditures incurred by Wheaton, or up to 461,538 shares. If Wheaton does not elect to convert its interest into shares in the company, the company may elect to convert Wheaton's interest in the first option into shares of the company at the same price. If neither party elects to convert the interest into shares, Wheaton has the option to acquire a further 32.86-per-cent interest in the first option (representing a 16.43-per-cent interest in the property) by advancing $575,000 to the company on or before June 15, 2002, bringing its total interest to 50-per-cent in the first option. Navigator reduces warrant price, extends expiry date Mon 15 Apr 2002 The TSX Venture Exchange has consented to the reduction in the exercise price of the following warrants. Private placement No. of warrants: 1,073,889 Expiry date: May 12, 2002 (new) Original price: $1.10 New price 57 cents (new) These warrants were issued pursuant to a private placement of 2,147,777 shares with 1,073,889 non-transferable share purchase warrants attached, which was accepted for filing by the CDNX effective May 1, 2000.