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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (9787)	3/12/1998 1:05:00 PM
From: Kim W. Brasington	Respond to of 20681

NAXOS RESOURCES LTD. 409 - 808 Nelson Street Vancouver, B.C., Canada V6Z 2H2 (604) 669 - 8078 N E W S R E L E A S E (98-4) Trading Symbol: NAXOF Date: March 12, 1998 Board of Directors wishes to announce it has accepted the resignation of Mr. Jimmy John as President and CEO. Mr. John will assume the position of Chairman of the Board. Mr. Sidney Kemp has been appointed interim president until a qualified mining professional can be appointed. To accelerate this search an industry advisory committee will be created. Its responsibilities will include recruitment of new management. Naxos believes that all of these elements will combine to strengthen and grow shareholder value. DATED at Vancouver, British Columbia, the 12th day of March, 1998. ON BEHALF OF THE BOARD NAXOS RESOURCES LTD. Per: "Sidney Kemp" Sidney Kemp President All forward-looking statements made by Naxos involve material risks and uncertainties and are subject to change based on factors beyond Naxos' control. Accordingly, Naxos' future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, without limitation, those described in Naxos' filings with the United States Securities and Exchange Commission. Naxos does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. For further information, please contact our Investor Relations' Department at (603) 891-5743 or (702) 372-1712 or (913) 894-8509.