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Gold/Mining/Energy : Darnley Bay Resources - DBL. VSE -- Ignore unavailable to you. Want to Upgrade?

To: Harmattan who wrote (27)	11/11/1997 9:53:00 PM
From: Harmattan	Respond to of 221

-------NEWS RELEASE-------- Shares for debt Darnley Bay Resources Ltd DBRL Shares issued 5,848,414 Nov 10 close $2.15 Tue 11 Nov 97 News Release Mr Leon LaPrairie reports Darnley Bay has reached an agreement with Inuvialuit Land Corporation of Inuvik, NWT on settlement of a $400,000 payment due to ILC under the current concession agreement between the parties. Under a proposal made October 6 by DBRL, ILC has on October 30 agreed to accept, by way of private placement, 235,294 DBRL shares at the equivalent of $0.85 each, being the offering price of DBRL's recent initial public offering, in settlement of $200,000 and has deferred payment of the remaining $200,000 to May 31 1998. DBRL is in the initial stages of exploration of the Darnley Bay anomaly at Paulatuk, NWT, under the concession agreement. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com