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Gold/Mining/Energy : Golden Hemlock(GHE) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Dydo who wrote (688)	2/3/1998 6:47:00 PM
From: Hugh M.	Read Replies (1) \| Respond to of 909

NEWS RELEASE Robert, I have some comments, should we do this here or on mail? Hugh Re-Pricing of Share Purchase Warrants & Stock Options Further to a news release of 01 December 1997, the Company advises that the Vancouver Stock Exchange has accepted its application to amend the exercise price of an aggregate 3,433,336 existing outstanding share purchase warrants to the amended price of $0.20 per share as follows: in respect of 3,000,000 warrants originally exercisable at the price of $0.55 until December 13, 1997 and then at $0.6325 until the expiry date of December 13, 1998, and in respect of 433,336 warrants originally exercisable at the price of $0.55 with an expiry date of December 13, 1997; the Exchange has also accepted the Company's application that the expiry date of the 433,336 warrants be extended by one year to December 13, 1998. The Exchange has imposed the condition that, in the case where warrant holders elect to take advantage of the reduced exercise price, they also agree that should the Company's common shares trade on the Vancouver Stock Exchange for a period of ten consecutive trading days at an average price of $0.25 per share or greater, the warrant holders must exercise their warrants within 30 calendar days or the warrant will expire at the end of those 30 days. Should this situation arise, the Company will notify warrant holders of the new expiry date of the warrants. Each warrant holder will be sent documentation whereby they may elect to participate in the amended exercise price; otherwise, the warrants remain with the original exercise prices and expiry dates. The Company hopes that reducing the exercise price of these warrants will facilitate the exercise, in due course, of the warrants and generate proceeds to be applied principally to our ongoing exploration programs at the gold project at San Jose de Gracia, Sinaloa State, Mexico. Also further to the news release of 01 December 1997, the Company has agreed to amend the existing exercise prices of incentive stock options held by officers, employees and directors in respect of 1,575,000 shares, exercisable at prices between $0.69 per share and $1.07 per share, to the amended price of $0.21 per share, subject to regulatory approval. On Behalf of the Board "Ian D. Brown" Ian D. Brown, Secretary