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

To: FRANK KENDRICK who wrote (1290)	1/6/1998 10:19:00 AM
From: Jesse	Read Replies (1) \| Respond to of 4256

NEWS Year end results - Montello Resources Ltd - MEO Shares issued 27,139,900 Jan 5 close $0.82 Tue 6 Jan 98 Company Review Mr Patrick Power reviews the company The year saw a broadening of interest in the Alberta diamond play. The January drill program of Kennecott Canada, the operator of the company's Hinton area properties, did not encounter kimberlite. In January, however Ashton Mining Canada announced that it had hit kimberlite in the Buffalo Hills area within the Buffalo Head craton. Immediately, the company staked approximately 4,000,000 acres of mineral exploration permits surrounding the Ashton find. The Ashton kimberlite find has expanded significantly with the announcement of 17 kimberlite pipes, 14 of which are diamondiferous. Ashton has also announced the presence of many more high priority kimberlite targets. _With excellent results being obtained from Ashton, the company and Redwood Resources agreed to acquire 2,000,000 common shares by way of private placement and to acquire an option on the company's Buffalo Hills properties. Redwood has provided the financial backing necessary for the company to perform the airborne geophysical survey, data interpretation and ground geophysical follow up which has resulted in the identification of numerous geophysical anomalies on the southeastern block of the company's Buffalo Hills properties. To date, Redwood has paid $2,500,000 to Montello pursuant to the private placement and option. Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com ---------------------------------------- ---------------------------------------- --Arghh-- again their news editors-- the release seems to imply that MEO and RDW have 2mil sh.of ACA--- I don't think so. I believe what is meant is that RDW bought 2mil shares of MEO in a PP (as per 06/97 MEO NR). ------ ----------- --------- -------------- - - - - - - - - Frank K., always appreciate your posts! John B. Jones -- liked your post! :)