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Gold/Mining/Energy : Magnesium Alloy Corp. (MGAC.U - Cdn unlisted) -- Ignore unavailable to you. Want to Upgrade?

To: GlobalMarine who wrote (39)	8/4/1998 10:43:00 AM
From: Ron Everest	Respond to of 103

Rand and All: I was able to talk to a geologist at MGAC.U this morning. Appears that the CDN (Canadian Dealer Network - the OTC exchange) issued the Halt and Resume 7/31. The CDN it would appear thought that the news from the Democratic Republic of Congo (some type of coup) affected MGAC.U where in fact MGAC.U does NOT opperate in DRofC but does operate in the Republic of Congo. The company or CDN will likely have a news release to clarify this later today. Best regards, Ron

To: GlobalMarine who wrote (39)	8/5/1998 2:19:00 PM
From: Ron Everest	Read Replies (3) \| Respond to of 103

Rand, MGAC.U has clarified the errors of the OTC of a few days ago. As we suspected this had to do with the confusion on the 2 Congos. Boy the market is sure unforgiving these days but never the less, I agree with you that this will become a 10 bagger sooner than later and am holding long. I have posted the release below MAGNESIUM ALLOY CORPORATION Trading Symbol: MGAC.U Exchange: Canadian Dealing Network Cusip: 5588914 10 7 PRESS RELEASE TORONTO: August 5, 1998 FOR IMMEDIATE RELEASE ú TWO CONGOS - CLARIFICATION OF COUNTRY OF OPERATION ú COMMENCEMENT OF PRE-FEASIBILITY STUDY Magnesium Alloy Corp. ("MAC" or "the Company") would like to clarify the Congo in which the Company's Kouilou magnesium development project is located as there are two separate and distinct Congos in Africa. MAC's magnesium project is project is located in the Republic of Congo, whose capital is Brazzaville. This country is completely separate and distinct from the Democratic Republic of Congo, formerly known as Zaire (capital Kinshasa). It is the Democratic Republic of Congo that has recently experienced unrest and difficulties with contractual relationships with Western entities and not the Republic of Congo (Brazzaville). Trading in the shares of the Company was halted in error briefly on July 31, 1998 as a result of confusion between the two countries. MAC has retained Salzgitter Anlagenbau GmbH of Germany to coordinate the multi-faceted technical program required to complete a pre-feasibility study on the Company's Kouilou Magnesium Project in the Republic of Congo. The technical programs are well underway and the Company expects to complete a favourable pre-feasibility report by early 1999. MAC believes that the combination of proven low-cost solution mining, and probable low-cost power rates for extraction will result in MAC being the world's lowest cost magnesium producer. The Republic of Congo continues to fully support the Company's Kouilou magnesium project. Magnesium Alloy Corporation is a Canadian company listed on the Canadian Dealing Network (CDN) in Toronto and is traded is U.S. currency under the symbol MGAC.U. More information is available on the company's web site at www.magnesiumalloy.ca. MAC has 13,801,095 shares issued and outstanding, of which 8,000,000 shares are subject to a pooling agreement. On behalf of Magnesium Alloy Corporation William Burton President For further information, please call Investor Relations toll free at 1-877-647-3117