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Gold/Mining/Energy : WWS.T World Wide Minerals -- Ignore unavailable to you. Want to Upgrade?

To: traacs who wrote (373)	3/30/1998 9:58:00 PM
From: tango	Respond to of 784

update: if you look at the uranium institute page you can see in the recent news that the kaz government is trying to get financing to restart the project that WWS was involved with.(seem to be having difficulty as this is a rather old story.) According to my source they have asked WWS to be a partner in the project. The opportunity so far has been turned down until a settlement can be made. Apparantly management feels they may be involved in the country down the road.

To: traacs who wrote (373)	4/2/1998 1:46:00 PM
From: Ray Emery	Read Replies (1) \| Respond to of 784

Nice to see some increased activity today. Ray

To: traacs who wrote (373)	4/9/1998 1:48:00 PM
From: R.A.K.	Read Replies (1) \| Respond to of 784

NEWS RELEASE: World Wide Commences Direct Kazakhstan Settlement Negotiations TORONTO, ONTARIO--World Wide Minerals Ltd. (TSE - WWS) announced today that at the invitation of the Government of Kazakhstan World Wide has commenced direct negotiations with the Government to resolve the dispute that has been outstanding since the unilateral cancellation in August 1997 of World Wide's management agreement to operate Tselinny Gorno-Khimicheskii Kombinat (TGK), a uranium mining and processing operation in northern Kazakhstan. At the invitation of the Ministry of Energy, Industry and Trade of the Republic of Kazakhstan, meetings have been held between representatives of the parties, including a meeting this week attended by Paul A. Carroll, Chairman and Chief Executive Officer of World Wide, in Akmola, the new National Capital of Kazakhstan. This invitation followed several months of inter-governmental efforts to resolve the dispute with the assistance of the Governments of Canada and the USA, interacting directly with their counterparts in the Government of Kazakhstan, as well as direct representations by World Wide. While these efforts were being undertaken World Wide has resisted initiating legal action through the courts or by arbitration. The Government of Kazakhstan has acknowledged its obligation to compensate World Wide for its lost investment in the TGK project as well as other investment in redeveloping the uranium resources of that country. It has established a working committee consisting of representatives of three Ministries - Energy, Industry and Trade; Finance; and Foreign Affairs - to work with World Wide to verify the actual expenditures by World Wide under its contractual arrangements and to establish the quantum of the compensation to be paid and the timing of payment. It is anticipated that a resolution of the dispute and a decision on payment will be reached in the near future. To date, the total investment by World Wide in the uranium industry in Kazakhstan, including accrued interest on loans to TGK, is over US$25 million. World Wide is a uranium production and marketing company based in Toronto. In addition to its activities in Kazakhstan, it is currently reactivating the Dornod uranium mine in Mongolia. This mine has uranium reserves and resources of 51 million lbs. of U3O8 and is scheduled to commence production later in 1998, with 1998 production estimated at 335,000 lbs. of U3O8, rising to 3.3 million lbs. in 2000. World Wide will deliver out of its inventory 1.0 million lbs. of U3O8 under contracts in the first half of 1998 - for revenue of over $18.5 million resulting in an operating profit of approximately $1.2 million. Future sales under existing contracts through 2003 will be at least $53 million, at prices well above current spot prices and well in excess of costs of production. -30- FOR FURTHER INFORMATION PLEASE CONTACT: World Wide Minerals Ltd. Corinna J. de Beer Director of Investor Relations 1-416-369-6084 1-416-369-6088 (FAX) E-Mail: cdebeer@worldwideminerals.com Web Site: www.worldwideminerals.com