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Gold/Mining/Energy : MONEY GUILD INC.---OTC:(MYGD) MAJOR Diamond,Gold Discovery -- Ignore unavailable to you. Want to Upgrade?

To: MoneyMade who wrote (33)	7/31/1998 3:09:00 PM
From: Nescom	Respond to of 473

Oh MYGD we have news! You're on target MoneyMade. Money Guild, Inc. Signs Option Agreement July 31, 1998 02:53 PM NEW YORK, July 31 /PRNewswire/ -- Money Guild, Inc. MYGD announced today that it has entered into an option agreement with Grosmin, C.A. to acquire two distinct lumber and mining concessions located in Venezuela. The two parcels known as Hato La Dominga and Miribisi comprise approximately 20,000 hectares. Money Guild, Inc. (the "Company") is presently conducting its due diligence and anticipates a closing within ninety days of the date of the option agreement. Such due diligence will include geologic exploration, mapping, sampling, surveying, analyzing existing reports and will include a "timber cruise" of the lumber concession. In the event that the Company is satisfied with the results of the due diligence, the Company may purchase either one or both of Hato La Dominga and Miribisi, respectively. The acquisition of Hato La Dominga and Miribisi will enable the Company to exploit both the timber and subterranean mineral and alluvial resources which are believed to include gold and diamond deposits. However, the Company is not yet in a position to substantiate this until further investigation is completed on the properties. The purchase price of Hato La Dominga and Miribisi are $2,000,000 (USD) and $1,000,000 respectively (USD). In addition, David Phipps was elected a director of the Company. Mr. Phipps is an international businessman. The Company plans to issue an expanded news release as information is available. SOURCE Money Guild, Inc.