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Gold/Mining/Energy : WWS.T World Wide Minerals -- Ignore unavailable to you. Want to Upgrade?

To: R.A.K. who wrote (307)	1/7/1998 11:04:00 AM
From: kingfisher	Read Replies (1) \| Respond to of 784

At what price do you feel Libra Gold will trade at? Assuming $1 per share of assets are in Libra at book value and the markets discount this value at 50% then the shares of Libra Gold may trade at .50cents.Ten shares of WWS at .35cents=$3.50 for 1 share of Libra Gold at .50cents = a distribution to shareholders of 14%.Are my assumptions conservative or optimistic?

To: R.A.K. who wrote (307)	1/7/1998 11:33:00 AM
From: traacs	Read Replies (1) \| Respond to of 784

WORLD WIDE MINERALS LTD. ISSUES CORPORATE UPDATE ON URANIUM ACTIVITIES 1998-01-07 TORONTO, ONTARIO World Wide Minerals Ltd. (TSE - WWS) issued an update today on its uranium industry activities. As previously announced, World Wide is spinning off its gold assets to its shareholders, subject to regulatory approvals, through a new company, Libra Gold Corporation. This will permit World Wide to focus on the uranium business which has been reorganized under its wholly-owned subsidiary, World Wide Uranium Corporation. Uranium Revenues World Wide Uranium already has contracted for sales of uranium under long term and spot sales agreements which will provide preliminary revenues in 1998 aggregating approximately US$13 million (equivalent to C$18.5 million). The average price to be received per pound of U3O8 is well in excess of the current uranium spot price. At the end of 1997, the Nuexco Exchange Value for spot sales of U3O8 was US$12.05 per pound (Restricted) and US$9.65 per pound (Unrestricted - CIS). All of the 1998 deliveries contracted to date fall within the first half of 1998. Beyond 1998, World Wide Uranium has contracts for the sale of uranium aggregating over US$37 million (equivalent to over C$52 million), again at an average price per pound well in excess of the current uranium spot price. Therefore, contracted sales of uranium by World Wide Uranium total over US$50 million (equivalent to over C$71 million), all of which to date are to North American buyers. This follows upon the first delivery of uranium made by the Company in late 1997 to Taiwan Power. Additional uranium sales are in progress. Uranium Production Mining has commenced at the Dornod uranium mine in Mongolia. The first heap leach pad has been constructed, additional mining equipment is being procured and the leach plant is being fabricated. Plans are progressing for the reopening of the underground mine. Production of yellowcake is projected for mid-1998, initially at an annualized rate of 800,000 pounds of U3O8 per year, rising to at least 2.6 million pounds of U3O8 per year when the underground is in full operation in 1999-2000. World Wide Uranium is investigating possible acquisitions of additional uranium production capacity, with a particular focus on North America. A corporate merger or acquisition is a possibility. World Wide Uranium does not intend to focus on long-term uranium exploration. FOR FURTHER INFORMATION CONTACT Corinna J. de Beer Director of Investor Relations Phone: 1-416-369-6084 Fax: 1-416-369-6088 E-Mail: cdebeer@worldwideminerals.com