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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: scott w. smilen who wrote (17041)	11/25/1998 6:39:00 PM
From: Kim W. Brasington	Read Replies (1) \| Respond to of 20681

FOR: NAXOS RESOURCES LTD. FOR FURTHER INFORMATION CONTACT INVESTOR RELATIONS: Jeff Sharp (913) 894 - 8509 Russell Smith (603) 891 - 5743 FOR IMMEDIATE RELEASE #98-30 Vancouver, British Columbia – November 25, 1998 - Naxos Resources Ltd (O.T.C. Bulletin Board: NAXOF), announced today the resignation of Jimmy John as a Director of the Company, effective December 18, 1998. Mr. John was the founder of the company, first President and former Chairman of the Board of Directors. Mr. Robert Gardner, President stated, “We would all like to thank Mr. John for his efforts on the part of the company and we look forward to proceeding with the new management team now in place”. ON BEHALF OF THE COMPANY NAXOS RESOURCES LTD “Signed” Robert S. Gardner President All forward-looking statements made by Naxos involve material risks and uncertainties and are subject to change based on factors beyond Naxos' control. Accordingly, Naxos' future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, without limitation, those described in Naxos' filings with the United States Securities and Exchange Commission. Naxos does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

To: scott w. smilen who wrote (17041)	11/25/1998 7:04:00 PM
From: GOGI	Read Replies (1) \| Respond to of 20681

Scott, I don't think the Naxos story is near the finish line. As improbable as it looks to the negative dwellers, Naxos may rise from the ashes. To make the manager of Franklin Lake the President of Naxos is pure TQM. Few people like the details of TQM but, in my experience, it works. Who would know better about resurrecting Naxos than the manager of Franklin Lake? Who would be most likely to know what needs to be done to get results from Franklin Lake? The buying of Naxos shares is most likely coming from people who have made a similar logical, internal analysis or from those who know what is going on behind the scenes. The situation of Naxos is not as bleak as most people assume: we have assets to sell, new management, enough money to work on perfecting a recovery method. I would be surprised if I learned that new management WASN'T buying shares of NAXOF. Their futures depend on Naxos. There is now a new focus at Naxos and I think it is logical that they have the blessing of Mr. John, as he owns millions of shares of Naxos but has severed all official ties with Naxos Resources. However, Mr. John and his family will benefit if the new management succeeds. I believe they will succeed: a number of distractions have gone by the wayside. If they don't succeed, and we won't know that for at least a couple of years, except in the case of a success well before then, then hopefully most of us are diversified and won't be hurt that badly. I only have 10,000 shares of Naxos, at this time. I am tempted to buy more shares at these low prices. I don't believe that ALL of the previous drill results were invalid. However, I do believe that they were not repeatable. So, we now have the right people working on that problem, the former manager of Franklin Lake, money to do it, and enough time. I wish that those few people who are tempted to panick about Naxos' situation would wait until it's time to panick. We ain't even close to the end, yet. Those people who haven't sold their shares of Naxos haven't lost anything, yet, except maybe psychologically (on paper only). Talk about burn rates all you want--we've got new management (from the trenches), time, and enough assets and money to get a concrete answer about whether or not Franklin Lake will be economic. GOGI

To: scott w. smilen who wrote (17041)	11/26/1998 8:21:00 AM
From: RRG	Read Replies (1) \| Respond to of 20681

Scott: You said>>>>>>> Thus, my question is, where is all this volume of late coming from and why?<<<<< Gee, I hate to give a negative response on this day when we should be counting our blessings, but one answer would be to recollect the famous remark of P.T. Barnum. Like you, I'm pretty much in that group that says that to sell now, with the small holdings I have, might give me enough to dine at a gourmet restaurant one time. Big deal! So I might as well stick around for the end of the ending or the beginning of the beginning. There is still one small very glimmer of hope; and sometimes miracles do happen! The ambivalent BobG.