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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (6923)	7/15/2002 11:30:14 AM
From: VAUGHN	Respond to of 7235

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

To: Famularo who wrote (6923)	7/17/2002 6:22:46 PM
From: VAUGHN	Read Replies (1) \| Respond to of 7235

Hello Frank *OFF THE WIRE* LIBREVILLE, July 15 (Reuters) - Canadian mining company SouthernEra Resources Ltd. has been awarded a permit to step up its exploration for precious minerals in the central African country of Gabon, the government said on Monday. The permit signed on Monday gives SouthernEra the right to look for diamonds, gold, platinum, copper and nickel and the authorities hope it will boost mining of platinum group metals in Gabon to levels already seen for manganese in the south. SouthernEra, an independent producer of platinum group metals and diamonds, has been carrying out research in Gabon since 1999 and is expected to start mining minerals in 2003, an official source said. "SouthernEra has the experience and the resources to work these permits in a substantial manner," said SouthernEra's vice-president Mike Eksteen at the signing ceremony. By the end of 2002, SouthernEra will have invested 675 million CFA francs in Gabon. It plans to build a small factory near Lambararene, some 250 km (160 miles) from the capital Libreville, which will use modern extraction methods. ((Abidjan newsroom, ++ 225 20 21 90 90, fax 225 20 21 30 77 Regards Vaughn