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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA -- Ignore unavailable to you. Want to Upgrade?

To: violetta martinez who wrote (582)	4/26/1998 2:54:00 PM
From: bill	Read Replies (2) \| Respond to of 2514

Globe and Mail has article "Are there diamonds in Alberta?" April 25. Too long to type in. Hilights. "Is the Alberta diamond play dead?" "Not yet. The validation of the play may have just been postponed," said John Kaiser...He suggests following what's going on in this 18 million hectare territory, located in northern Alberta. Mr. Kaiser admits that some juniors with properties in the secotr had unsuccessful drilling campagins... "Companies like NCS and MEO failed to find anything. The problem is they are unable to understand their magnetic readings and drill at the right palce. But they are studying Ashton's resuls and wil come back later," he said. A sign that the play is definitely not over is that the world's No. 1 diamond explorer and marketer, De Beers is jumping into the ring. Jv with TYR in TYR's five propertries on 445,000 hectares at Buffalo Hills. To earn a 51 percent interest, Monopros must spend at least 5.5 million on exploraiton and development by Feb. 28, 2002. It also has the right to earn an additonal 9 per cent. ACA and PUG have had good results. 23 diamond bearing kimberlites have been identified so far. These discoveries are still at an early sampling stage. The market is awaiting information on the quantity and quality of the diamonds the kimberlites contain. That's why the company is spending 10 million on exploration in 1998. Alberta confirmed as world class potential could happen in June with the release of results from K-91 or later this fall. NCS, EVR and BKV are all mentioned as good picks. No mention of MMU unfortunately. ___ This was just a rough summary of the article. However, in spite of not mentioning MMU, I think it was still good for the company because of the positive comments regarding the ADP.