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Gold/Mining/Energy : DIADEM RESOURCES - DIR,M -- Ignore unavailable to you. Want to Upgrade?

To: Jim P who wrote (876)	1/3/1999 3:23:00 AM
From: dragonden	Read Replies (1) \| Respond to of 897

Today's Headlines Canadian Company Information US Company Information About Carlson Online Basic Equity Search Compare Equities Insider Trades Short Positions About Carlson Online Plus Modify/Cancel Subscription Free Trial Subscribe now About Industry Watch Modify/Cancel Subscription Free Trial Subscribe now Canadian Company Press Release DIR 1998-12-23 (provided courtesy of Canadian Corporate News.) register to receive future releases by email from CCN Diadem Signs Settlement Agreement For Belitung Island Properties TORONTO, ONTARIO--DIADEM RESOURCES LTD. (DIR.ME) is pleased to announce that an agreement has been signed to allow Diadem to acquire Bresea Resources Ltd.'s 60 percent interest in the Kelapa Kampit zinc-lead-silver deposit, as well as Bresea's interests in the Tikus and Lilangan projects, all on Belitung Island, Indonesia and to settle its disputed claims with Bresea. After a joint venture expenditure of US$2.5 million a resource has been estimated by the Company's consultant, Fenton Scott, P. Eng., to contain 13 million tonnes of indicated and inferred resources within a 1.5 km section of a 7.5 km indicated strike length averaging 8.5 percent zinc, 4.25 percent lead and 2.00 ozs. silver per tonne. The settlement agreement provides that Diadem will settle Bresea's claim for reimbursement of US$900,000 in joint venture expenditures and will acquire Bresea's interests for a payment of 1,650,000 common shares of Diadem. Diadem thereby will own 90 percent and Indonesian partner P.T. Gunung Ki-Kara Mining 10 percent of the Kelapa Kampit deposit and the joint applications for Contracts of Work for Tikus (polymetallic) and Lilangan (gold) deposits, all on Belitung Island. The settlement transaction is subject to receipt of all necessary regulatory and Montreal Exchange approvals. Diadem Resources Ltd. is a Toronto-based mineral exploration company with interests in gold properties in Nicaragua; an advanced zinc project in Indonesia; zinc, copper-nickel-cobalt properties in Quebec; and a diamond discovery in California. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Diadem Resources Ltd. Lina Noble Secretary/Treasurer 416-364-2893 416-286-0795 (FAX) Legal Notices New User Français Corporate Links Basic Plus Industry Watch About Carlson Online Basic About Carlson Online Plus About Carlson Online industry watch Today's Headlines Equity Search Canadian Company information Compare Equities US company information Insider Trades Short Positions © Copyright Carlson Online Services Inc, 1996-1998. All rights reserved. I missed this release when issued. Beginning to lose interest in this company--Laura