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Gold/Mining/Energy : Regal GOldfields (REGL -- Cdn over the counter) -- Ignore unavailable to you. Want to Upgrade?

To: Brian Warner who wrote (329)	2/24/1998 9:00:00 AM
From: Brian Warner	Read Replies (1) \| Respond to of 370

from Feb. 24 Halifax Daily News: hfxnews.southam.ca Regal making presence felt Company taking government to court, drilling near Barren By STEPHEN BORNAIS-- The Daily News Call Regal Goldfields Inc. the company that just won't go away. The president of the Toronto-based mining firm, which is taking the province to court over the Jim Campbells Barren decision, was in Nova Scotia this week to discuss the pending legal action and an up-coming exploration program. Richard Brissenden said he met privately with members and "friends" of the Cheticamp Development Corporation over the weekend to keep them up to date on the company's legal challenge. He also informed them of Regal's intention to begin drilling in early May at two sites to the northeast of the barren and a third to the northwest. Of the company's eight "targets" in the area, only two are within the barren, Brissenden said. "Each of these targets stands on its own, so we want to test them," he said. It's all part of a campaign to show Nova Scotians the company is not about to disappear, he said. "We plan to persist, to examine the mineral potential of the Cheticamp Highlands as best we can, and, coincident with that, we're going to persist to get some degree of fairness out of the government with respect to targets within the barren," said Brissenden. The company will be in court March 11, seeking to overturn the province's decision last October to put the barren back on the protected sites' list. An early government decision had removed it after lobbying by the Cheticamp Development Corporation, eager for the jobs mineral development might bring to the economically depressed area. If it's not possible to overturn the decision, Regal wants the province to pay compensation for the money it has already spent on exploration. Regal would also want to be paid for the loss of potential revenues and the money lost when the company's stock fell after the barren was re-listed. Brissenden said the first two sites will be examined for lead-zinc-silver potential, while the third will be tested for copper-nickel deposits. Regal will spend close to $500,000 on the exploration and employ 10 to 15 local people for the summer. Regal's appearance comes in the middle of the provincial election campaign. The government's flip-flop will be an issue in Inverness County, said Brissenden. "I didn't do any polls, but in talking to the people I did, there certainly is a level of disappointment, perhaps even some anger, with ... what is perceived to be a highly political decision that eliminated the ability to fully evaluate the potential in the highlands."