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To: Brett Fleischman who wrote (30571)	8/19/1998 9:39:00 AM
From: Nescom	Read Replies (1) \| Respond to of 34592

IDCN News!.... CMI Capital Offer Update tagged for: IDCN retrieval keys: !business !public+companies !wall+street biz british+columbia business corporate dollar mining otc switzerland usa VANCOUVER, BRITISH COLUMBIA (Aug. 19) BUSINESS WIRE -Aug. 19, 1998-- Indocan Resources Inc. (OTC-BB: IDCN.) - On August 11, 1998 the company board of directors received a letter containing an offer. The board of directors has met to consider the offer from CMI Capital and its associates. The offer is as follows: "We and our associates in Zurich, Switzerland have examined the information available regarding your mining claim properties. We have a keen interest in the overall project and wish for you to consider our offer to purchase all the issued and outstanding capital shares of Indocan Resources Inc. at the price of U.S. dollar $0.375 per share. "We understand the board of directors is in a position to make this decision solely without the necessity of a shareholder meeting. Your prompt attention to this matter will be greatly appreciated. "The offer is on an all or none basis and we expect that acceptance by the board of directors would indicate a reasonable assurance that more than 80% of the capital stock would accept our tendered offer. This offer shall remain valid for three weeks, until 5:00 p.m. Montreal time, Tuesday, the 1st of September 1998." The board of directors have voted today to accepted the offer and recommend that the shareholders vote to accept it also. Since the board alone cannot deliver 80% of the company a shareholder's meeting will be called. The meeting time and the record date for share ownership will be set and announced next week. -0- AR/na* CONTACT: Investor Relations: (888) 821 6607 Brokers contact: (360) 676 1315 Jeffrey Bruhjell (604) 929-7224 e-mail: jeffreyb@axion.net