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

To: Famularo who wrote (429)	2/4/1998 4:47:00 PM
From: topstock	Read Replies (3) \| Respond to of 822

PURE GOLD MINERALS NEWS RELEASE Pure Gold Minerals Inc - Sweetgrass Arch data analysis delayed Pure Gold Minerals Inc PUG Shares issued 24870966 1998-02-03 close $1.15 Wednesday Feb 4 1998 See Reclamation Management Ltd (RMLL) News Release Ms Joan Purdy reports Due to the high level of oil and gas exploration in southeastern Alberta, the analysis of the data for the HRAM survey recently completed over a large block of mineral permits straddling a portion of the Sweetgrass Arch is taking slightly longer than expected. The high-resolution magnetic survey has defined a high number of thumbprint anomalies that appear to have kimberlite-like signatures. The use of airborne flight line videotapes, recent satellite images and published well-site locations has assisted greatly in the final selection of priority targets. It is anticipated that the final processing will be made available by early next week. Reclamation has a 25% interest in the property and 75% is held by Pure Gold Minerals. As a first option, CaribGold can earn a 25% undivided interest pro rata from Reclamation and Pure Gold. To exercise its option, CaribGold has made a cash payment of $125,000 on signing and is to make another payment of $125,000 before the first anniversary of the agreement and spend $1,000,000.00 on exploration expenditures within the first two years of the option. A minimum of $500,000.00 is to be expended within the first six months. To date approximately $300,000 has been spent on the property. 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. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)