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Gold/Mining/Energy : Safe Environment (SFU.AL) - was Roper Resources -- Ignore unavailable to you. Want to Upgrade?

To: Stew who wrote (139)	5/19/1998 8:36:00 AM
From: Ed Pakstas	Read Replies (2) \| Respond to of 635

*NEWS RELEASE* Year end results Roper Resources Inc RRN Shares issued 13,484,300 May 15 close $0.45 Tue 19 May 98 Company Review Mr. Rick Watson reviews the company During the year ended Dec. 31, 1997, Roper Resources and Safe Environment Engineering, a California limited partnership, satisfactorily completed their mutual due diligence and a second phase of negotiations has now commenced. Roper Resources has deposited, in trust, the sum of $50,000 (U.S.) with the law office of MacDonald, Altman, Sager of Toronto. With the deposit, Roper obtains the exclusive right to negotiate a relationship with Safe Environment. The parties are at arm's length and have agreed to determine and define such a relationship by May 29, 1998. If circumstances warrant, this date may be extended by mutual agreement. It is Roper's intent that the outcome of the negotiations will result in an agreement where Roper will acquire a significant interest in Safe Environment. Safe Environment is headquartered in Valencia, California. The company develops and supplies communications systems which integrate wireless telemetry and voice communication to transmit information. The company uses this technology in its patented Life-line system, which, in one version, enables monitoring of entrants into confined spaces or hazardous locations and in another configuration, monitors security personnel on patrol rounds. On the mining side, Roper and its joint venture partners continue to evaluate and review the geological and drill hole data on the Abbott project in the Slocan mining district on Healy Creek, which is 40 miles north of Kaslo, B.C. Work under way is intended to enable a determination of the field work program in the 1998 season. Subject to financing, the continuation of surface and underground exploration and development is planned. Work planned for 1998 includes a 300 foot haulage tunnel at the 6,450 foot level to intersect the Abbott replacement orebody. At this point there will be about 60 feet of ore about the drift and 20 feet of ore below the floor. Drifting will continue north and south for at least 500 feet along the strike on the known orebody, which has drilled outlined reserves of 42,024 tons grading .035 ounces gold, 8.35 ounces silver, 10.26 ounces lead and 16.12 ounces zinc. Diamond drilling of the quartz vein will continue in 1998. Previous drilling on this system encountered significant widths at the 6,480 foot level with massive sulphide intersections of up to 80 feet. The strike length of the area so far explored on the quartz vein system in 1988 was 280 feet. The vein is open to depth. Subsequent to the year ended December 31, 1997, 1,500,000 shares were issued at 14 cents, to net the company's treasury $210,000. The company has arranged a five year $100,000 (U.S.) convertible debenture. The company has also arranged a five year convertible debenture with Duncan R. McKay & Associates of London, England, in the amount of $150,000. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com