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Gold/Mining/Energy : African Metals Corporation(AFR-Cdnx)(was Shiega resources) -- Ignore unavailable to you. Want to Upgrade?

To: Walter who wrote (117)	6/5/1998 7:56:00 PM
From: Wats	Read Replies (1) \| Respond to of 151

Nkroful JVÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Shiega Resources Corpÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ SHG Shares issued 19,211,060ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Jun 4 close $0.45 Fri 5 Jun 98ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release Also Samax Gold Inc (SMX) Mr. Willis Osborne reports Samax has started the joint venture's deepÿ drillingÿ programÿ designedÿ to testÿ the high grade vein system at the Nkroful gold exploration project in southern Ghana. Samax will earn a 65 per cent interest in theÿ propertyÿ by completing a feasibility study. The existing agreement with Shiega Resources envisaged that the development ofÿ anyÿ goldÿ deposit would be by way of an open pit and the joint venture holds a mining licence from theÿ Ghanaÿ governmentÿ toÿ carryÿ outÿ suchÿ a project.ÿ However work done to date by Samax on behalf of the joint venture has indicated that any deposit would bestÿ beÿ developedÿ byÿ meansÿ ofÿ an underground mine. Negotiations have reachedÿ anÿ advancedÿ stageÿ betweenÿ Samaxÿ andÿ Shiega Resourcesÿ onÿ theÿ revisionÿ andÿ extensionÿ ofÿ the existing agreement to address a prefeasibility study for an underground mine. In the meantime the existingÿ agreement has been renewed to cover the expected time to complete the negotiations. (c) Copyright 1998 Canjex Publishing Ltd. Good news... BTW, sorry to "lose you" on that last post - my error on the options. Wats

To: Walter who wrote (117)	6/19/1998 8:02:00 PM
From: Wats	Respond to of 151

Gold Dust option agreementÿ (News Release)ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Shiega Resources Corpÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ SHG Shares issued 19,211,060ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Jun 18 close $0.39 Fri 19 Jun 98ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release Also Westpine Metals Ltd (WM) Mr. Willis Osborne and Mr. Donald Nicholson report Under an option agreement, Westpine can acquire a 100 per cent interestÿ in theÿ Goldÿ Dust property from Shiega. The Gold Dust property, consisting of 8.8 square miles, is in the Circle District, 100 miles by road northeast of Fairbanks, Alaska. Toÿ acquireÿ theÿ interest,ÿ Westpineÿ mustÿ issueÿ 200,000ÿ sharesÿÿ (post consolidation)ÿ inÿ 50,000 share blocks to Shiega over three years and keep the property in good standing. If Westpine isÿ unableÿ toÿ performÿ inÿ the firstÿ threeÿ years, because of adverse market conditions, the company will be granted an extra year and a halfÿ toÿ Dec.ÿ 17,ÿ 2002ÿ toÿ perform.ÿ Any productionÿ fromÿ theÿ property is subject to a 2 per cent nsr in favour of Shiega. This completes the mandate of Shiega to divest itself of itsÿ North Americanÿ propertiesÿ and concentrate exclusively on its gold properties in West Africa. As part of the agreement Westpine must also pay a company whollyÿ ownedÿ by Mr.ÿ Osborneÿ $35,200ÿ overÿ a one and a half year period to compensate the company for expenses incurred to keep the property in good standing and for a final payment to the previous owner. (c) Copyright 1998 Canjex Publishing Ltd. Wats