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Gold/Mining/Energy : Northern Abitibi Mining (NAI-ASE) -- Ignore unavailable to you. Want to Upgrade?

To: Flea who wrote (693)	11/9/1998 12:12:00 PM
From: Buckey	Read Replies (1) \| Respond to of 773

Farm's gone, John...just a pig and a couple of chickens left. rotflmao - WEll - at least you have enough left for one nice meal of bacon and eggs - and for lunch a chicken sald sandwhich. UGLY selling

To: Flea who wrote (693)	2/16/1999 7:18:00 AM
From: wayne cath	Read Replies (1) \| Respond to of 773

Northern Abitibi's 1998 annual report Northern Abitibi Mining Corp NAI Shares issued 27,755,028 Feb 15 close $0.14 Tue 16 Feb 99 Company Review Mr. Glen Harper reviews the company 1998 Annual Report The main focus of the company's exploration activities in 1998 was the South Voisey Bay project. Property maintenance work was conducted on the company's portfolio of gold and base metal projects in Quebec. Donner Minerals Ltd., the company's 50 per cent joint venture partner, is operator of the South Voisey Bay base metals project. In May a major diamond drilling campaign to test several strong geophysical anomalies commenced. These anomalies were associated with diamond drill hole SVB97-96, which in December of 1997, intersected a 15.7 metre core length of massive sulphides assaying 1.13 per cent nickel, 0.78 per cent copper and 0.20 per cent cobalt. The initial six holes drilled during May and June, selected to offset the mineralization in SVB97-96, failed to locate any significant intersections of sulphide mineralization. Detailed pulse electromagnetic geophysical surveys were then started to identify massive sulphide mineralization. Further drill targets were established based on survey results and diamond drilling recommenced in September. Thin layers of massive sulphide mineralization were intersected that seem to account for some of the geophysical anomalies. Drilling continued until the end of November without intersecting any economically significant thickness of massive sulphide mineralization. Poor results from the 1998 drill campaign had a negative effect on the share prices of all South Voisey Bay project participants. During the 1998-1999 winter months the exploration data will be reviewed and interpreted by exploration staff of Northern Abitibi, Donner and Teck Corp. to develop the 1999 exploration program and budget. These recommendations should be available from Donner by April 1999. Northern Abitibi will determine its 1999 participation at that time. In September 1997 Northern Abitibi entered into an agreement to settle its legal dispute with International Mining Company S.A. with regard to an option and joint venture agreement. Northern Abitibi had agreed to finance exploration to earn a 50 per cent interest in a large diamond and gold property in Guinea, West Africa. Before this option agreement could be finalized, IMC entered into a similar business relationship with Hymex Diamond Corp. Northern Abitibi took legal action to enforce its contract and in late 1997 a business solution to the problem was negotiated with Hymex. The company agreed to terminate its claim in return for the reimbursement of its expenditures on the Guinean property and payment of 500,000 shares of Hymex. During 1998 Hymex agreed to pay Northern Abitibi $25,000 (U.S.) per calendar quarter as an extension fee while awaiting the finalization of the agreement with IMC. The current extension terminates on Dec. 31, 1998. The company owns a strategically located group of claims in the Val d'Or gold camp, the Siscoe property, formerly known as the Roy property. Most of this property lies beneath Lac De Montigny with exploration conducted during the winter months when the lake is frozen. In September the property was optioned to Beaufield Consolidated Resources which has since conducted an airborne geophysical survey. Beaufield currently plans to test the property's gold potential with a diamond drill program scheduled for the winter of 1999. In March Northern Abitibi closed the private placement with its parent, Golden Rule Resources, issuing 2,800,000 units at 72 cents. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com