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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC) -- Ignore unavailable to you. Want to Upgrade?

To: Laser who wrote (59)	3/7/1998 3:40:00 PM
From: Craig Jones	Read Replies (1) \| Respond to of 397

I'm Looking for some working capital estimates for AMC, anyone have any or know where I can find them? I'm doing some number crunching, but need more info. Will post my results if anyone is interested. Cheers, Craig

To: Laser who wrote (59)	3/15/1998 11:28:00 PM
From: Laser	Read Replies (3) \| Respond to of 397

***NEWS RELEASE*** Argentine drill program to commence April 1ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Abacus Minerals Corporationÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ AMC Shares issued 21,590,405ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Mar 13 close $0.45 Fri 13 Mar 98ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release Mr Steve Todoruk reports A drill contract has been negotiated to begin drilling on the Laÿ Manchuria projectÿ inÿ Santaÿ Cruzÿ Province,ÿ Argentina.ÿ Drillingÿ isÿ scheduled to commence on April 1. Abacus is earning a 100% interest in the La Manchuria project fromÿ Barrick Goldÿ byÿ carrying out US$2,700,000 in exploration over a four year period. The company must spend US$500,000 by December 31 1998. To date, the company hasÿ expendedÿ approximatelyÿ US$325,000 on the project. The upcoming drill program will exceed the company's first year work commitment. Afterÿ Abacus is vested, Barrick has a right to back into La Manchuria for a 50% interest by carrying out the next US$3,700,000 in exploration. Barrick discovered gold mineralization in 1996 on La Manchuria and reported values of 110m grading 1.48 g/t gold, 57.7 g/t silver and 180m grading 1.37 g/t gold, 14.89 g/t silver from two of its three trenches.ÿ Followingÿ this initial discovery and the formation of the Abacus/Barrick agreement, Abacus carried out continued trenching, mapping andÿ geophysicalÿ surveys.ÿ Abacus trench results included 70m grading 1.18 g/t gold and 51.77 g/t silver. The geophysical surveys show large targets which conform to the surfaceÿ trench results and indicate highly prospective drill targets. Nine or 10 HQ sized diamond drill holes willÿ beÿ directedÿ belowÿ existing trenchesÿ as well as one or two holes designed to test geophysical zones of silicification and chargeability. Upon receiving these initialÿ drillÿ hole results, an immediately expanded drill program is envisaged while the drill rig and geological crew remain on site for approximately three-four weeks. La Manchuria project is approximately 80km west of Angloÿ American'sÿ Cerro Vanguardiaÿ project.ÿ Recentÿ published works indicate Cerro Vanguardia has reserves of 3,800,000 ounces of gold and 33,000,000 ounces of silver. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com