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Gold/Mining/Energy : Steppe Gold (SPE:V) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Dydo who wrote (628)	2/17/1998 12:25:00 PM
From: John Menzies	Read Replies (1) \| Respond to of 1248

STEPPE GOLD ACCEPTS PROJECT FINANCE TERMSHEET Website: steppe-gold.com Steppe Gold is pleased to advise that it has executed the termsheet provided by Standard Bank of London being for the provision of capital for the Mizek gold project in Kazakstan. VANCOUVER: John Menzies, President and Robert Bell CEO of Steppe Gold Resources Ltd are pleased to announce today that the Company at the end of January 1998 executed the termsheet from Standard Bank of London for the Mizek project financing previously announced on January 15th 1998. The financing is structured with a primary facility for project development of up to US$20 million, a US$4 a standby facility and a US$5 million gold hedging facility. Conclusion of this transaction remains subject to regulatory and VSE approval, satisfactory legal and technical due-diligence and documentation. The company has successfully advanced project permitting and is close to receiving final construction permits for the Mizek Heap Leach operation.