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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (5187)	6/10/1998 10:17:00 PM
From: 1king	Read Replies (1) \| Respond to of 11676

FYI David Patterson, President of Crazy Horse Industries Inc. announces that the Company has entered into an agreement with Teck Corporation to acquire strategically located claims close to the San Nicholas VMS Discovery. The claims to be acquired from Teck are contiguous to claims recently acquired by the Company in the Zacatecas and Aguacalientes states of Mexico. The combined property interest, referred to as the Teck-Crazy Horse property, covers approximately 48,000 hectares immediately south of a large land package held by Noranda which adjoins the Teck-Western Copper Property. Recent geological work carried out by the Company has confirmed that the volcanic rock unit hosting the San Nicholas discovery (Chilitos Formation) also occurs on the Teck-Crazy Horse property. The claims are considered strategic because they cover a large segment of a regionally extensive north-north-east oriented geological structure. This area, owned by Teck, Kennecott, Western Copper and Noranda, is presently the focus of extensive ground geophysical surveys. Crazy Horse has now carried out preliminary geological work and orientation IP surveys on the Teck-Crazy Horse property. Based on the results of this work the Company intends to complete a minimum of 100 line kilometers of reconnaissance IP geophysical surveys. The initial phase of work will be completed by late July and results will be announced as they become available. In addition to the acquisition of the Teck claims, under the terms of the agreement, Crazy Horse has granted to Teck an option to earn a 50% interest in the Teck-Crazy Horse property. To earn the 50% interest, Teck is required to prepare at its sole cost and deliver to Crazy Horse a Final Feasibility study detailing the feasibility of placing the Teck-Crazy Horse property into commercial production and arranging all financing to implement commercial production in accordance with the final feasibility study. Crazy Horse has also agreed to grant to Teck an option to earn an additional 1% interest in the Teck-Crazy Horse property by making a cash payment to Crazy Horse at any time after the completion of the Final Feasibility Study but before the commencement of commercial production. The cash payment will be equal to 1% of the Net Present Value, based on a 15% discounted cash flow, as calculated in the Final Feasibility study. The Company also wishes to announce the appointment of William Meyer, former President of Teck Exploration and Harvey Keats, President of Donner Minerals to the positions of Director. John Magee and Michael Turko have resigned as Directors of the Company. The Vancouver Stock Exchange recently approved Teck's subscription of 200,000 units of Crazy Horse at a price of $0.50 per unit. The Teck-Crazy Horse acquisition and option agreement is subject to the approval of the Vancouver Stock Exchange. ON BEHALF OF THE BOARD OF CRAZY HORSE INDUSTRIES INC. ''DAVID PATTERSON'' President