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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: KevinK who wrote (814)	3/25/1998 8:56:00 PM
From: roger fontaine	Respond to of 1706

Northgate Exploration Will Participate in the Refinancing of the Kemess Gold-Copper Mine VANCOUVER, B.C.--(BUSINESS WIRE)--March 25, 1998--Northgate Exploration Limited (TSE:NGX. - news; ME:NGX. - news; NGX.TO) today announced that they have agreed to participate in the refinancing of the Kemess gold-copper mine as announced by Royal Oak Mines Inc. [AMEX:RYO - news] earlier today. Northgate will purchase a US$35 million junior tranche of secured notes as part of a $120 million issue of Senior Secured Notes arranged by Trilon Financial Corporation of Toronto, Ontario. Northgate will finance this investment out of its current cash resources and a $30 million term financing which is currently being arranged. This investment is in keeping with Northgate's stated objective of increasing its investments in the mining industry, with a particular focus on the gold sector. Northgate is a Canadian mining investment company with offices in Vancouver and Toronto.