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

To: Paul Bilecki who wrote (60)	7/18/2002 9:08:04 AM
From: Famularo	Respond to of 16206

Ashton Announces Change in Scope of Slave Regional Joint Venture VANCOUVER, BRITISH COLUMBIA--Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton"), announces a change in the scope of activities to be carried out under the Slave Regional Joint Venture Agreement (the "Slave Agreement") with Pure Gold Minerals Inc. ("Pure Gold"). Pursuant to the Slave Agreement, Ashton and Pure Gold have been exploring for diamonds in the Slave Craton since 1994. The approximate participating interests of the parties in the joint venture are currently Ashton 89.4 percent and Pure Gold 10.6 percent. The Slave Agreement authorizes the joint venture management committee to abandon any purpose of the joint venture. At a meeting held on July 17, 2002, the management committee resolved to abandon the regional purpose of the joint venture. Accordingly, activities under the Slave Agreement will now be limited to the approximately 240,000 hectares of mineral claims that the joint venture presently holds in the Northwest Territories and Nunavut

To: Paul Bilecki who wrote (60)	7/18/2002 9:11:10 AM
From: Famularo	Respond to of 16206

parent company may just gobble up rest of the shares possible, but would not happen for a while and it would be @ much higher market valuation. Outstanding shares Rio would purchase is approx. 17mil shares. Petty cash for Rio. For creative accounting reasons, Rio can pay a premium, when and if it becomes interested........Just my two cents worth.....frank