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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (6567)	7/9/1998 2:49:00 PM
From: Geoffrey J. Hay	Respond to of 14226

USPS just got funding for a 1million $ line of credit to establish a new processing plant. Its up 17% for the day. I believe this is part of the news. To: +Geoffrey J. Hay (632 ) From: +Lee Bush Thursday, Jul 9 1998 2:28PM ET Reply # of 633 NEWS RELEASE US Power Systems, Inc. Scottsdale, Arizona July 8, 1998 US POWER SYSTEMS, INC. announced today that its wholly owned subsidiary, AQUARIUS MINERALS, INC. has successfully obtained the necessary funding from their major investors to construct a precious metals processing facility at the Aquarius XXV site near Wikieup, Arizona. A line of credit of up to one million dollars ($1,000,000.00) has been established and equipment for this project is now being procured. AQUARIUS MINERALS, INC., also has obtained all necessary environmental permits from the Arizona Department of Environmental Quality for the construction and operation of the metal processing plant. Waivers have also been received for the Water Quality Permits from ADEQ and the Army Corps of Engineers. Construction of the facility is expected to commence in July 1998 and to be completed and operational sometime during the fourth quarter of 1998. US POWER SYSTEMS, INC. has approximately 600 acres of leased mineral property at the Aquarius XXV site that has been extensively assayed to verify the precious metal content of the complex ores on the property. In 1994 a drilling program was completed which confirmed that a commercial size deposit is available for a profitable mining operation. AQUARIUS MINERALS, INC. conducted an extensive testing program during 1997 to demonstrate that the process for the recovery of precious meals is both repeatable and profitable. Precious metals from six separate tests were sent to four independent commercial refiners to validate the precious metal recovery and to confirm the AQUARIUS MINERALS assay programs. US POWER SYSTEMS, INC. has legal action pending against a Phoenix sand and gravel company for the unauthorized removal of ore from the Aquarius XXV site. The court has ruled in our favor and granted a summary judgment with a permanent cease and desist injunction against any further ore removal by the defendant. This case is pending in an appeal and the court has not determined the damage due US POWER SYSTEMS, INC. Plans are being made for a shareholders meeting to be conducted sometime during the first quarter of 1999, which will be announced in a subsequent newsletter. US POWER SYSTEMS, INC. IS A PUBLICALLY TRADED COMPANY ON THE OTC BULLETIN BOARD, SYMBOL USPS ------- Lee