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

To: gian piero ciambella who wrote (3494)	3/26/1998 11:45:00 AM
From: Steve Stakiw	Read Replies (2) \| Respond to of 4057

FAQ-Why is it taking so long to find a partner for Buffalo Valley? from Joe Kizis, Fairmile Gold Corporation Vice-President Exploration and Director Fairmile began showing Buffalo Valley data to potential joint-venture partners on January 19, after confidentiality agreements were signed. There is an enormous amount of data available for review, which takes a substantial commitment on behalf of the reviewing company to evaluate properly. Several groups have made this commitment, and they are currently examining the data in detail. Fairmile believes that serious negotiations will begin in April. Buffalo Valley is a large property with a great deal of information available. There are a large number of high-quality exploration targets that remain to be tested. Potential partners are being prudent in evaluating all targets in detail. This process takes time, particularly with the downsized staffs at many companies. There is also the competition for time from other large projects and whole companies that are available at this time. In summary, the process takes time. To keep things in perspective, consider Fairmile's previous joint venture at Buffalo Valley with Echo Bay. Initial contact occurred in October 1995. It was followed by several reviews of the data and property visits, with the basic terms of an agreement negotiated on March 20, 1997. Further negotiations resulted in an acceptable Letter of Intent on April 9, with was announced in a News Release on April 10, 1997.