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Gold/Mining/Energy : Pamlico Resources Ltd.(PGP) Russian Diamonds -- Ignore unavailable to you. Want to Upgrade?

To: arizona_ice_tea who wrote (40)	6/30/1998 2:11:00 AM
From: arizona_ice_tea	Respond to of 41

NEWS RELEASE June 29, 1998 Vancouver, BC - PAMLICO RESOURCES LTD. (the "Company") announced that it has negotiated, subject to regulatory approval, a private placement with two Canadian-based institutional investors, of 2,200,000 common shares at a price of $1.00 per share. The proceeds of the private placement will be used to fund exploration and drilling costs on the Belozerskaya Property, and for general corporate purposes and working capital. Pamlico Resources Ltd. is a Vancouver-based mineral exploration and development company. PAMLICO RESOURCES LTD. /s/ Terence A. Steel Terence A. Steel Vice-President and Director The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.