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Gold/Mining/Energy : United Gunn Resources (UGR.V) -- Ignore unavailable to you. Want to Upgrade?

To: Veteran98 who wrote (39)	10/2/1997 10:12:00 PM
From: CLK	Respond to of 42

Thanks! Impressive move so far.

To: Veteran98 who wrote (39)	1/31/1998 1:04:00 PM
From: Veteran98	Read Replies (1) \| Respond to of 42

UGR has been quiet for the last couple of months and has been agressively accumulated between 1.40-1.60 while waiting for work to start on the Beaver River project. Looks like Wascanna is going full steam ahead now and more news will be coming out. UGR has held up well in an extremely lousy market and has built a solid base and should react well on good news. UNITED GUNN RESOURCES LTD. ("UGR-V;UGRCF-L") EUROGAS INC. ("EUGS-L") - United Gunn Completes Private Placement Funding with EuroGas S. David Anfield, President of United Gunn Resources Ltd. ("United Gunn") announces that United Gunn has completed the private placement funding with EuroGas Inc. ("EuroGas") whereby EuroGas purchased 933,333 units at $1.50 per unit aggregating $1,399,999.50. Each unit shall consist of one share and one non-transferable share purchase warrant exercisable for a period of two years granting EuroGas the right to purchase one additional share at a price of $1.50 in the first year and at a price of $1.75 in the second year. Operations are continuing at the Beaver River Gas Project in north eastern British Columbia. As announced on December 19, 1997, United Gunn and the other Beaver River Partners have entered into a Farmout Agreement with a major oil and gas company (which acts as "Operator") to redevelop the Beaver River Field. Under the terms of the agreement the Operator will have the right to earn a 50% interest. United Gunn will participate by contributing 9% of the costs to retain a 12.5% interest. During the latter part of 1997, United Gunn caused a total of 341 mineral units to be staked in four separate claim blocks peripheral to the Gibraltar Mines porphyry style copper deposits in central British Columbia. The staking was followed by silt sampling of active creeks in the area of the claims along with limited prospecting due to the late fall weather conditions. A compilation of previous exploration work and the results of the 1997 silt/rock sampling have defined significant base and precious metal targets on all four properties. Two of the properties have similar stratigraphy and geophysical signatures to that of the Gibraltar North porphyry style zinc-silver-copper-gold deposit. The other targets located northeast of the Gibraltar area have a signature which is consistent with stratabound base-precious metal skarn/replacement mineralization. All targets are of sufficient size based on existing data to be of economic significance. A proposed 1998 work program is now being considered by the Board. TEL: (604) 688-2401 S. David Anfield, President FAX: (604) 682-3736 _____________________________________