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Gold/Mining/Energy : Columbia Yukon Resources (A.CYR) -- Ignore unavailable to you. Want to Upgrade?

To: Flea who wrote (656)	5/26/1998 10:21:00 PM
From: dvid	Read Replies (2) \| Respond to of 686

Todays news: FOR: COLUMBIA YUKON RESOURCES LTD. ASE SYMBOL: CYR MAY 26, 1998 Columbia Yukon: Alberta Diamond Property Acquisition VANCOUVER, BRITISH COLUMBIA--Columbia Yukon - Consolidated Venturex - Hearne Craton Columbia Yukon Resources Ltd. (the "Company") and Consolidated Venturex Holdings Ltd. ("CVA") announce the closing of the transaction under the agreement to purchase, each as to a 50 percent interest, certain metallic and industrial mineral permits, representing 43,648 hectares (107,852 acres) from Raynard William Howarth ("Howarth") for a total consideration of $67,000. Under the terms of the agreement, the purchase price consists of a one time cash payment of $10,000 payable by the Company and an aggregate of 100,000 common shares of CVA and 100,000 common shares of the Company. Under the agreement, Howarth will retain a 2.5 percent net diamond royalty, and Venturex and CYR have the right to purchase 1 percent of the diamond royalty for $1,000,000. All shares issued by the Company in connection with this transaction will be subject to a hold period trade restriction expiring at midnight on May 22, 1998. All shares issued by CVA in connection with this transaction will be subject to a hold period trade restriction expiring at midnight on May 15, 1998. ON BEHALF OF THE BOARD OF DIRECTORS Michael S. Gustavson, Managing Director -30- FOR FURTHER INFORMATION PLEASE CONTACT: Columbia Yukon Resources Ltd. Michael S. Gustavson Managing Director (604) 683-3070 (604) 683-2308 (FAX) Toll Free: 1-888-888-9122 CDN, 1-888-888-9123 USA columbiayukon.com Neither the Alberta Stock Exchange nor any other regulatory body has reviewed this news release and therefore do not accept responsibility for the adequacy or accuracy of this release. INDUSTRY: PCS SUBJECT: TMN