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To: Joe Copia who wrote (23342)	6/3/1998 2:39:00 PM
From: stock4U	Read Replies (1) \| Respond to of 34592

ARET NEWS-More Contract NEWS - New agreement with Native tribe - From Steve & Bloomberg: TOMAHAWK TO PROVIDE SERVICES FOR DAKOTA PLAINS FIRST NATION Jun 3 1998 9:23 (The following is a reformatted version of a press release issued by AmeriResource Technologies.) ARET ANNOUNCED TODAY THAT ITS SUBSIDIARY, TOMAHAWK CONSTRUCTION COMPANY HAS NEGOTIATED AN AGREEMENT WITH THE DAKOTA PLAINS FIRST NATION (DPFN) TO PROVIDE DESIGN, ENGINEERING AND PROJECT MANAGEMENT FOR A PILOT HOUSING PROGRAM ON TRIBAL LAND IN THE PROVENCE OF MANITOBA, CANADA. AmeriResource Technologies, Inc. (OTCBB ''ARET'') announced today that its subsidiary, Tomahawk Construction Company has negotiated an agreement with the Dakota Plains First Nation (DPFN) to provide design, engineering and project management for a pilot housing program on tribal land in the Provence of Manitoba, Canada. The housing design will utilize affordable construction time and reduce utility consumption by as much as 60%. The initial budget for this pilot project is in the range of $1.6 million to $2.4 million US$. AmeriResource Technologies, Inc. is a full service ...... .. Community. For further information please contact Barry Denslow Telephone (913) 859-9292 Fax (913) 859-9520

To: Joe Copia who wrote (23342)	6/3/1998 2:48:00 PM
From: Mykldee	Read Replies (1) \| Respond to of 34592

Joe, Last sentence reads very nicely, At December 31, 1997, the Company had total assets of $2,229,029, total liabilities of $2,533,251 and total stockholders equity of $(301,222) compared with total assets of $13,323,105, total liabilities of $10,265,397 and total stockholders equity of $3,057,708 at March 31, 1997. The significant changes in assets, liabilities and stockholders equity is due to the merger of the Company's former consolidated subsidiary, Golf Ventures, Inc., with U.S. Golf Communities. As a result of this merger the Company no longer includes Golf Ventures in its consolidation. The merger of the Company's former subsidiary, GVI, provided substantial debt relief. At December 31, 1997. The Company's current ratio was approximately 84 current assets to 1 current liabilities.