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Gold/Mining/Energy : Diamonds in Alberta, Ashton, Pure Gold, Montello, New Cla -- Ignore unavailable to you. Want to Upgrade?

To: Jesse who wrote (356)	1/15/1998 12:22:00 PM
From: Famularo	Read Replies (1) \| Respond to of 822

Unrelated to the runup and Ashton, here is a Pure Gold release. High resolution magnetic survey completed on Lethbridge diamond project Pure Gold Minerals Inc PUG Shares issued 24,870,966 Jan 14 close $1.28 Thu 15 Jan 98 News Release See Reclamation Management Ltd (RMLL) News Release Ms Joan Purdy reports A high resolution magnetic survey has just been completed over a large block of mineral permits straddling the Sweetgrass Arch which trends through the Lethbridge property in the southeast part of Alberta. The purpose of the survey, which totalled approximately 39,000 line kilometres, was to define a number of high priority magnetic targets which may reflect diamond bearing kimberlitic intrusions. The company has retained the services of a consultant geophysicist with considerable kimberlite experience. His duties will be to analyze the HRAM data for magnetic anomalies with characteristic kimberlite signatures. The analysis of the HRAM data is expected to be completed within the next ten days. Detailed ground follow-up is scheduled to begin immediately following the HRAM data analysis. Pure Gold has a 75% interest in the property and 25% is held by Reclamation Management. As a first option, CaribGold can earn a 25% undivided interest pro rata from Pure Gold and will make another payment of $125,000 before the first anniversary of the agreement and spend $1 million on exploration expenditures within the first two years of the option. A minimum of $500,000 is to be expended within the first six months. By spending an additional $2 million by the fourth anniversary of the agreement and issuing 100,000 shares, CaribGold can earn an additional 15% interest in the property.