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

To: VAUGHN who wrote (848)	5/26/2003 9:41:22 PM
From: rdww	Respond to of 16204

Arctic Star, Kennecott to search for diamonds together Arctic Star Diamond Corp ADD Shares issued 20,003,766 May 26 close $0.58 Mon 26 May 2003 News Release Mr. Patrick Power reports ARCTIC STAR JOINT VENTURES WITH KENNECOTT Arctic Star Diamond has signed a letter of intent with Kennecott Canada Exploration Inc. (KEX), which will form the basis of a new joint venture to explore for diamonds in Ontario. Recently, KEX conducted a program of till, esker and beach sampling in Ontario (at the cost of approximately $800,000), which revealed an anomalous area with significant diamond mineral indicators with positive chemistry. Due to other budgetary commitments, KEX has not been able to focus on this opportunity. By becoming involved Arctic can accelerate the program designed to identify the source areas. The joint venture arrangements are as follows: 1. Arctic will have the right to earn a 50-per-cent interest in the JV by paying $80,000, which has been paid, issuing 120,000 common shares and carrying out a program of work which will culminate in the drill testing of 10 targets by the end of 2004; the summer work program is to commence forthwith; 2. KEC will immediately provide Arctic with the results of all work performed to date; and 3. KEX can elect to earn a 75-per-cent interest by solely financing exploration through to decision to mine at any time within two years of the joint venture being formed. Further to an article reported in Stockwatch news on May 23, 2003, regarding legal proceedings between Arctic and Kennecott, Arctic and Kennecott wish it to be known that as a result of the signing of the letter of intent a consent dismissal order will be executed and the claim of Kennecott will be extinguished. For clarification, the filing of the writ was not intended by Kennecott as both parties had already reached general agreement on the JV. Both parties see this as a major step forward in a mutually beneficial continuing relationship. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com

To: VAUGHN who wrote (848)	5/26/2003 10:25:04 PM
From: E. Charters	Read Replies (2) \| Respond to of 16204

I have been talking techie talk to investors and companies alike for the past 8 years and they cannot distinguish between brokers arm waving and explorationists putting cogent theories forward. In 1992 few knew anything practical about diamonds. Now everyone knows more than we do. When Wildcat first predicted that diamonds would be found in the volcanics of Wawa everyone thought we were idiots. Now that they have been found there, they are silent, and they still don't pay attention. No doubt they put it down to luck. The companies don't care, as they will just use the information to their own ends. They don't even see that the info is what they could continue to use, and even propose a JV. It needs to come from a PhD who can put on feathers and medals, or they cannot use it (in the public domain) Maybe. We tried to enlist the aid of Mitchell, Russian scientists and the like to back our theories and lend them credence to the unwashed. All that did is let people like Ashton take advantage of us, and we lost ground. first in James Bay, then in Wawa. And it wasn't the few who tried to claim jump us, it was the many. I have only mentioned one or two. There were dozens. Virtually everyone thinks who has a public company and a piece of paper that they know enough and they can buy the rest. It would seem that in practice, at first rush they are right. First money, then genius. I won't put the cart before the horse again as long as I live. Me dumb. Everyone else find diamond mines, they dumb too. So everyone being equally dumb, me want chance to find fiamond mine. All I need is the money. EC<:-}