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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (25)	7/15/2002 9:11:06 AM
From: Famularo	Respond to of 16204

Twin Mining arranges $4-million financing Twin Mining Corp TWG Shares issued 72,109,529 Jul 12 close $0.45 Mon 15 Jul 2002 News Release Mr. Hermann Derbuch reports TWIN MINING ANNOUNCES $4 MILLION FINANCING Kingsdale Capital Partners has been appointed as Twin Mining's agent to offer, by way of private placement, up to four million flow-through units and four million common share units, in each case, at a price of 50 cents per unit. Each flow-through unit will consist of one common share and one-half common share purchase warrant. Each common share unit will consist of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $1.00 for two years. The closing date is expected to be on or about July 31, 2002. The company stated that the proceeds will be used primarily to advance exploration of its Jackson inlet diamond property and the feasibility study on its Atlanta gold project.

To: Famularo who wrote (25)	7/15/2002 11:28:13 AM
From: VAUGHN	Read Replies (3) \| Respond to of 16204

Hello Frank Some news on SUF's prospective Misty Lake property: Diamonds North listed on TSX Tier 1 as DDN Exploration Advances on Victoria Island and Northwest Territories Projects TSX Venture Exchange: DDN Shares Issued: 10,001,033 VANCOUVER, July 15 /CNW/ - Mark Kolebaba, president of Diamonds North Resources Ltd., announced today that the company's shares have begun trading on the TSX Venture Exchange. Diamonds North will trade as a Tier 1 company under the symbol DDN. Diamonds North evolved from the restructuring of Commander Resources Ltd. (formerly Major General Resources) and was created to concentrate exclusively on diamond exploration. As part of the corporate restructuring that led to the formation of Diamonds North, Commander will own 950,000 shares of Diamonds North and will have the right to increase this interest by an additional 840,000 shares. "We're focused on high-quality projects with the potential for economic diamond deposits," said Kolebaba, who, prior to his Diamonds North appointment, was senior geologist with BHP Billiton's global diamond exploration team. To date, sixteen kimberlite pipes and dykes have been discovered on Victoria Island, fourteen of them contain diamonds. "And," Kolebaba continued, "we have an aggressive growth program to expand our portfolio, with an ongoing search for new properties in Canada." Since its launching as a public non-trading company May 3, 2002 Diamonds North has raised $2 million: $500,000 through private placement with U.S. Global Investment Funds and $1.5 million through a prospectus offering by Haywood Securities. Following financing, 10.3 million shares are issued and outstanding. Sixteen per cent of the shares are held by institutions, and sixteen per cent by insiders, promoters and consultants. The company's holdings in Nunavut and in the Northwest Territories comprise more than one million acres and forty targets. Eight projects are in place, with programs in progress or planned for 2002. Programs and partners on Victoria Island include: - Blue Ice (100% Diamonds North) - Drilling underway on eight high- priority targets. - Hadley Bay (Canabrava Diamond Corporation) - Drilling of eight to ten high-priority targets scheduled to begin in July; - Yankee (Hawkeye Gold International) - Additional surveying planned following drill program; - Washburn (Patrician Diamonds Inc.) - Six diamondiferous kimberlites identified; six anomalies ready for drill testing; - Wellington (Patrician Diamonds Inc.) - Fifteen new kimberlite targets marked for further exploration; - Holman (Serengeti Resources Inc.) - Exploration of forty geophysical anomalies to begin in August; In the South Slave, Northwest Territories: - Misty Lake (Southern Era and International Diamond Syndicate) - Four drill targets sited immediately south of the Mountain Province/De Beers Kennady Lake project, at least three to be drilled in August; - Gten (Snowfield Development Corporation) - Immediate plans include helicopter borne magnetic geophysical survey, till sampling and diamond drilling. "We're very enthusiastic about our 2002 programs," said Kolebaba. "We have committed partners, the resources and the experience to advance these projects rapidly. Close to $3 million will be spent on the Company's properties this season. There's a strong corporate commitment to making Diamonds North a leader in Canadian diamond exploration." Besides Kolebaba, the Diamonds North senior management group includes Bernard Kahlert, vice-president, exploration and director; Yale Simpson, director; Maynard Brown, director; and William Coulter, senior corporate advisor. Bernard H. Kahlert Vice President, Director Regards Vaughn