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Gold/Mining/Energy : Etruscan Enterprises Ltd -- Ignore unavailable to you. Want to Upgrade?

To: stock wiz who wrote (197)	4/18/1998 7:52:00 PM
From: Robert Bachynski	Respond to of 235

Here is some positive news, It looks like Etruscan has enough cash on hand to keep them in business, or build a mine. ETRUSCAN RESOURCES INC. RELEASES 1997 RESULTS DARTMOUTH, NOVA SCOTIA-- Etruscan Resources Inc. (EET.TSE) is pleased to announce its has released its 1997 Annual Report which includes audited financial results for year ending November 30, 1997. The Company is in the development stage of its business and has earned no revenue from its operations. At November 30, 1997 the Company reported a balance of cash and cash equivalents of $22,551,346 compared to $2,824,454 as at November 30, 1996. Total assets including its capital assets and resource properties were $81,801,267 as at November 1997 compared with $37,626,508 as at November 30, 1996. Etruscan Resources Inc. is directly and through its subsidiaries involved in the acquisition, exploration and development of mineral properties in West Africa. The common shares of Etruscan are traded on The Toronto Stock Exchange and the Vancouver Stock Exchange under the symbol "EET". Etruscan is 5.6% (2,006,834 shares) beneficially owned by NovaGold Resources Inc. which is listed on The Toronto Stock Exchange under the symbol "NRI" and 11.6% (4,175,275 shares) by Placer Dome Inc. ON BEHALF OF THE BOARD OF DIRECTORS OF ETRUSCAN RESOURCES INC.