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Gold/Mining/Energy : Pure Gold Minerals (PUG)-TSE -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (235)	1/15/1998 1:21:00 PM
From: Valuepro	Respond to of 1030

All, here's at least one story... 15Jan98 RECLAMATION MANAGEMENT LTD ("RMLL-Z;RCLMF-L") - High Resolution Magnetic Survey Completed - on Lethbridge Diamond Project Joan Purdy, President of Reclamation Management Ltd., is pleased to confirm that 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 totaled approximately 39,000 line kilometers, 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 dat 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 50% interest in the property and 25% is held by the Reclamation Management Ltd. As a first option, CaribGold can earn a 25% undivided interest pro rata from Pure Gold and Reclamation. To exercise its option, CaribGold has made a cash payment of $125,000 on signing, will make another payment of $125,000 before the first anniversary of the Agreement and spend $1,000,000 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 $2,000,000 by the fourth anniversary of the Agreement and issuing 100,000 shares, CaribGold can earn an additional 15% interest in the property. There are 96,761,627 shares issued and outstanding. TEL: (604) 687-0300 Joan Purdy, President FAX: (604) 687-0151