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Gold/Mining/Energy : Cartaway resources -- Ignore unavailable to you. Want to Upgrade?

To: R.A.K. who wrote (1443)	2/4/1998 2:07:00 AM
From: Ed Pakstas	Respond to of 2505

ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ International Canalaska Resources Ltdÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ICA Shares issued 17,357,793ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Feb 2 close $0.34 Tue 3 Feb 98ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Acquisition Also International Freegold Mineral Dev Inc (ITF) The VSE has accepted for filing documentation pertainingÿ toÿ anÿ agreement datedÿ Decemberÿ 21 1997, whereby International CanAlaska Resources Ltd can acquire from Cartaway Resourcesÿ Ltd,ÿ aÿ 50%ÿ interestÿ inÿ mineralÿ claim licenceÿÿ No.ÿÿ 3307Mÿÿ (theÿÿ property)ÿÿ inÿ Labrador,ÿ Newfoundland.ÿ In consideration, CanAlaska is obligated toÿ incurÿ aÿ totalÿ ofÿ $500,000ÿ in explorationÿ expendituresÿ onÿ the property by December 31 1999, complete a $100,000 private placement purchasing 333,333 units of Cartawayÿ consisting ofÿ oneÿ shareÿ andÿ oneÿ share purchase warrant, and exercising $50,000 of Cartaway warrants on or beforeÿ Mayÿ 31ÿ 1998.ÿ Byÿ financingÿ $100,000ÿ in explorationÿ expendituresÿ andÿ completingÿ aÿ geophysicalÿ surveyÿ onÿ the property by April 30 1998, CanAlaska will be the operator and receive a 15% feeÿ forÿ all monies expended on the property. A 1% nsr royalty is retained by Thistle Creek Resources Inc. If the property is purchased, CanAlaska has theÿ rightÿ to purchase from Thistle Creek, a 0.5% nsr royalty for $500,000 subject to exchange acceptance. In addition to the 1% nsr, an additional 1% nsr royalty has been created whereby Cartaway and CanAlaska each own 0.5%. In addition and further to the VSE notice of December 12ÿ 1996,ÿ CanAlaska, Internationalÿ Freegoldÿ Mineralÿ Development Inc and Cartaway have amended the September 9 1996 agreement, whereby Cartaway can earnÿ aÿ 50%ÿ interest (reduced from 60%) in mineral claim licence No. 5446M (previous licence No. 1575M andÿ 1576M)ÿ byÿ incurringÿ aÿ totalÿ ofÿ $2,000,000ÿ inÿ exploration expenditures by December 31 1999, on the mineral claim licence No. 5446M. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com