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Gold/Mining/Energy : Darnley Bay Resources - DBL. VSE -- Ignore unavailable to you. Want to Upgrade?

To: Willithit who wrote (65)	5/29/1998 1:36:00 PM
From: Grant Baker	Read Replies (1) \| Respond to of 221

Hi Willithit. Received a letter from Leon earlier this week saying that DBL was trying to raise $2 million for further exploration this summer, and up to $25 million for a follow-up drilling program if warranted by the exploration program results. Do you know which house the agency agreement is with? I have a great deal of respect for Nellie, but I also have some experience with the Fed's regarding land leases and park boundaries on a different territorial park - I expect that they will likely be hard to move off of their position on this park boundary issue. I wish Nellie all the best in her efforts, but I wouldn't put much of a premium on the likelihood of her succeeding in getting a boundary change at this point.....time will tell. My position on the park boundary issue is that DBL should prove up the mineral potential (ie. assayed drill core) of their staked area, then begin negotiations with the Fed.'s. As things currently stand, no other company can get in to stake the park area. I would expect that DBL's previous surrender of their prospecting license in the park area should go a long way toward claiming first right of refusal for an exploration permit inside the current park boundaries if the park area were to be decreased and that area made available for exploration.