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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: 4figureau who wrote (1034)	8/22/2002 11:08:57 AM
From: 4figureau	Read Replies (1) \| Respond to of 5423

SGF: Shore Gold closes $1,875,000 financing Shore Gold Inc SGF Shares issued 23,450,703 Aug 20 2002 close $ 0.75 Wednesday August 21 2002 News Release Mr. Jonathan Challis reports Shore Gold has closed a $1,875,000 private placement with Magma Diamond Resources Ltd., subject to exchange and regulatory approval. The private placement consists of 2.5 million units at a price of 75 cents per unit -- each unit consisting of one common share and one share purchase warrant, exercisable at a price of $1.10 for 18 months from the date of closing. The company is delighted to welcome this significant new shareholder and believes that Magma's expertise will greatly help in completing the proposed 25,000-tonne bulk sample over the next 12 months. Magma is a newly formed company whose sole purpose is equity and debt participation in diamond mining and exploration projects worldwide, and the adding of value to these projects through the provision of technical and marketing expertise. The shareholders of Magma are: BSG Investments -- the majority shareholder of Magma. The principal of BSG, Benny Steinmetz, is an international investor with extensive investments in diamonds, natural resources, engineering and real estate; Bateman -- the world's foremost provider of process and recovery expertise and equipment to the diamond mining industry. Bateman also has extensive in-house capability in the preparation of diamond mining feasibility studies and project financing; Steinmetz Diamond Group -- one of the world's largest integrated diamond marketing and trading companies with offices in Antwerp, Tel Aviv, Mumbai, Johannesburg, New York and Chicago; and Brian Menell -- the chief executive officer of Magma who has 14 years of experience in the diamond marketing, mining and exploration industries, including eight years with De Beers and three years as an executive director of Anglovaal Mining Ltd.