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Gold/Mining/Energy : New Claymore Resources -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (337)	7/17/1998 2:13:00 PM
From: Just Wayne	Read Replies (1) \| Respond to of 531

NEWS RELEASE 98-8 Private Placement Amended New Claymore Resources Ltd. (the "Company") announces that it has agreed with Golden Capital Securities Ltd. ("Golden") to amend the terms of the private placement of 1,000,000 units announced May 19, 1998. The price for the units has been reduced from $1.60 to $1.10 per unit to reflect the current market price. Investors may elect to purchase either an A Unit or a B Unit, subject to a maximum of 500,000 B Units which are available for sale. The A Unit will be comprised of share and one whole share purchase warrant. The B Units will be comprised of one flow-through share and one-half of one warrant. Each whole warrant will entitle the holder to acquire an additional common share in the capital of the Company for a period of 12 months from closing at a price of $1.25 per share. Golden Capital will receive a commission of 7.5% of the gross proceeds of the offering, payable in cash or in common shares or a combination, at the election of Golden Capital. In addition, the Company will issue to Golden Capital 200,000 warrants, (the "Agent's Warrants"), and a corporate finance fee of $55,000 payable by the issuance of 50,000 common shares at a deemed price of $1.10 per share. Each Agent's Warrant will entitle the Agent to purchase a further common share of the Company for a period of one year at a price of $1.25 per share. The amendment of these terms is subject to regulatory acceptance. Closing is scheduled to occur by the end of August 1998. NEW CLAYMORE RESOURCES LTD. Anthony Rich, P. Geol. President For further information please contact: Jackie Muirhead, Investor Relations Tel: (604) 669-1084 Toll free: 1-888-522-9333 Fax: (604) 669-7659 E-mail: comments@newclaymore.com Web Site: www.newclaymore.com