Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Fairmile Gold -- Ignore unavailable to you. Want to Upgrade?

To: Luce Wildebeest who wrote (3386)	1/2/1998 6:30:00 PM
From: Steve Stakiw	Read Replies (3) \| Respond to of 4057

Buffalo Valley Strategic Alliance Update FAIRMILE GOLD CORPORATION Telephone: (604) 257-4262 or 1-888-599-6777 Toll Free Fax: (604) 683-2540 ASE: FLA NASDAQ Bulletin: FAMQF Buffalo Valley Strategic Alliance Update January 2, 1998 Vancouver - Fairmile Gold Corp. (Fairmile) announced today that it has received Echo Bay Mines Ltd.'s (Echo Bay) notice of their decision not to proceed with the Strategic Alliance between Fairmile and Echo Bay at Fairmile's wholly-owned Buffalo Valley Property, located in the prolific Battle Mountain-Eureka Gold Trend in Central Nevada. Under the terms of the agreement, Echo Bay would have been required to exercise warrants for 700,000 Fairmile shares at a price of CDN$3.00/share, or proceed directly to a feasibility study. Echo Bay's decision to discontinue participation in the program was in part due to ".. the current state of the industry..". Fairmile has had expressions of interest from other major mining companies regarding a joint venture at Buffalo Valley. The Company will pursue discussions with suitable joint venture partners to continue work at Buffalo Valley directed toward increasing the present resource of approximately 600,000 troy ounces of gold. Additional potential is believed to exist within two newly discovered mineralized trends between Target L and the A/B/O Complex, which will be the focus of further work. Other target areas will also be pursued. In addition to Buffalo Valley, Fairmile holds a large land position with recorded gold production at Highland, located near Gabbs, Nevada, on the Walker Lane Trend. Initial review of the preliminary surface work is encouraging. Further interpretation is under way, with more details available in the near future. For further information visit Fairmile's web site at www.fairmile.com or contact Investor Relations at 1-888-599-6777. "Thomas R. Kelly" Thomas R. Kelly, President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.