To: Claude Cormier who wrote (151 ) 11/6/1998 1:04:00 AM From: Paul S. Read Replies (2) | Respond to of 366
Big volume and a news release I noticed a couple of very large trades go through today on LTU. Is this positioning of large players or spillover on excitement of SVB. I didn't realize that they were so close to the action in SVB. Something is happening as evidence of the trades today. Here's the news release LATITUDE MINERALS CORP. SUITE 612, 475 HOWE STREET, VANCOUVER, BC V6C 2B3 Tel (604) 688-2010 Fax (604) 688-2015, Toll-free 1 800-668-0071 e-mail mineral@mineweb.corn trading symbol: LTU.V MILLER MOUNTAIN ACQUISITION APPROVED VANCOUVER, BC, November 06, 1998: Latitude Minerals Corp. (LTU.V) has received approval from the Vancouver Stock Exchange for the acquisition of a 100% interest in the Miller Mountain Gold Deposit in west central Montana. The Miller Mountain Gold Deposit is part of an extremely large, intrusive-hosted gold system. Gold mineralization is hosted in granodiorite and quartz monzonite intrusives of Cretaceous age. A sizeable open-ended resource, defined by nearly 400 holes drilled between 1984 and 1993 exists at the Miller Mountain intrusive where a cross-sectional global resource estimate by Pegasus yielded 864,000 to 975,000 ounces of gold.. Of significance are the results of a recent airborne magnetic survey of the area which suggests the presence of at least three, large, westward-dipping tabular intrusive sheets similar to that hosting the Miller Mountain Deposit. The Company intends to conduct a 6,000 foot reverse circulation drill programme on the property in the near future. Exploration success at either of the additional targets could substantially increase the current resource for the property. As consideration for the acquisition, the Company has issued 20,000 shares as a finders fee. The shares are subject to pooling restrictions until February 19,1999. Latitude Minerals Corp. holds interests in four gold properties in the western United States with gold resources in place of greater than 1.85 million ounces as well as a 25% interest in Project 79 in South Voiseys Bay, Labrador with Donner Minerals Ltd. (25%) and NDT Ventures Ltd.(50%). The property is to the south of and is contiguous with the Northern Abitibi / Donner Minerals property on which significant nickel, copper, cobalt mineralization was intersected in 1997. A work programme under the supervision of Teck Exploration is currently underway at the property. On Behalf of the Board of Directors, LATITUDE MINERALS CORP. "John R. Garden" John R. Carden President THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN