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Gold/Mining/Energy : Tan Range -- Ignore unavailable to you. Want to Upgrade?

To: Pianoman1997 who wrote (56)	3/11/1998 5:35:00 AM
From: Martin Archer	Read Replies (1) \| Respond to of 122

Dan: You're right the POG makes, the economics difficult. I guess this is where Minorca's cash will come in handy. POG recovering would be a welcome bonus. Sutton is supposed to be at the pre-feasibilty stage this spring? Hopefully any good news from them might rub off on Tan Range. Good luck Martin

To: Pianoman1997 who wrote (56)	3/16/1998 7:30:00 PM
From: Ron Everest	Read Replies (1) \| Respond to of 122

News Release Itetemia due diligence completed Tan Range Exploration Corp TNX Shares issued 34,862,082 Mar 16 close $0.65 Mon 16 Mar 98 News Release Also Minorca Resources Inc (MAR) Mr Marek Kreczmer reports Minorca Resources has informed Tan Range that it has completed its due diligence procedures with regard to its earlier agreement with Tan Range to acquire up to a 50% participating interest in Tan Range's Itetemia property in central Tanzania. Minorca has completed a site visit, technical review and title review and is satisfied with its findings. A formal agreement is now being prepared and closing is expected to occur in the next few weeks. On February 17 1998 Tan Range announced that Minorca and Tan Range had signed a heads of agreement under which Minorca will provide an initial financing of C$1 million (1,176,471 units at $0.85 each) for Tan Range's Itetemia property in Tanzania and will obtain options to acquire up to a 50% participating interest in Tan Range's rights to the property in exchange for C$10 million in cash payments and the financing and completion of a bankable feasibility study. Tan Range believes that this agreement with Minorca is a positive step in the development of both the company and the Itetemia property. This agreement will protect Tan Range shareholders against significant future dilution while at the same time securing the financing required to develop the Itetemia property to fruition. The Golden Horseshoe deposit on the Itetemia property comprises stratabound gold mineralization in association with sulphide and quartz rich facies. The stratabound nature of the deposit suggests large tonnage potential. Induced polarization surveys have indicated that the zone is at least 2200m in length. Thirteen diamond drill and nine reverse circulation drill holes have tested the IP conductor, which is open along strike and at depth. Recently, Tan Range awarded a long term, 12 month diamond drilling contract for drilling at the Itetemia property. Drilling is expected to resume in late March and there is provision for 10,000m of diamond drilling to test extensions of the Golden Horseshoe deposit.