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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T) -- Ignore unavailable to you. Want to Upgrade?

To: grusum who wrote (812)	11/1/2002 1:34:49 PM
From: grusum	Read Replies (2) \| Respond to of 922

Birim Earns Interest in Bui Concessions Thursday October 31, 3:49 pm ET MONTREAL--(BUSINESS WIRE)--Oct. 31, 2002--Birim Goldfields Inc. (TSX: BGI - News) is pleased to announce that it has notified Newmont Overseas Ltd. that it has fulfilled the expenditure requirement ($US3.5 million) necessary to retain its rights to the Bui Concessions in Ghana. Importantly, Birim will now retain title (90% interest) to Bui, which will greatly enhance its abilities to expedite development of the numerous advanced exploration targets that it has identified in its work to date. "Completing the necessary expenditures for the Bui Concessions represents a key milestone for Birim," said Denis Simoneau, Chief Executive Officer, "the Company looks forward to exploring and developing the several extensive drill targets it has identified during the five years it has been active on the Bui Concessions." The Company has already prepared an aggressive work program, which is ready to be implemented once the upfront royalty from Ashanti, linked to the development of the Mampon gold deposit, is received. While the Company recognises the ongoing delays, beyond its control, in receiving necessary Government approvals for the issuance of a Mining Permit for Mampon, it is confident that such formalities will be executed soon. Management and the Company's Directors are reviewing all options available to expedite the development of these extensive exploration assets. Birim Goldfields Inc. is a mining exploration firm whose mission is to explore and develop gold deposits in Ghana, West Africa. The Company has 28.1 million common shares outstanding. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.