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Gold/Mining/Energy : Highwood Res. Ltd (T.HWD, HIWDF) -- Ignore unavailable to you. Want to Upgrade?

To: Gerry who wrote (65)	12/22/1998 5:49:00 PM
From: kidl	Read Replies (1) \| Respond to of 147

Canada Talc to be acquired Highwood Resources Ltd HWD Shares issued 20,025,748 Dec 21 close $0.64 Tue 22 Dec 98 News Release Mr. Garry Lynkowski reports Highwood Resources has entered into an agreement to purchase 100 per cent of the shares of Canada Talc Limited. Under the terms of this transaction, Highwood will pay a combination of $400,000 cash and 1,785,714 in shares of Highwood. The transaction will be effective Jan. 1, 1999 and is subject to regulatory approval. Canada Talc is recognized as one of Canada's oldest industrial mineral companies having operated continuously since 1881. During this period, the company has mined and processed a variety of talc mineral products that have been distributed throughout North America. Canada Talc's mining and processing operations are near Madoc, Ontario. A recent review of the geological potential indicates a reserve base capable of sustaining continued operations for approximately the next 50 years. Highwood Resources became a well-recognized producer and marketer of industrial minerals in North America when it merged with Mountain Minerals in 1996. Subsequently, the efforts of the company have been directed towards continued growth in the production of traditional industrial minerals. The company's most recent development activity has been focused on the development of the world class Thor Lake beryllium deposit in the Northwest Territories. The original project development application was submitted in July of 1997 and most recently the project environmental assessment report has been submitted and is currently under the review of the various government agencies. Meanwhile, the company is continuing community consultation with the special interest groups most closely associated with the project. It is anticipated that the application for the water licence will be submitted to the Northwest Territories Water Board early in 1999. The acquisition of Canada Talc will dramatically increase Highwood's industrial mineral business. Additionally, the proximity of Canada Talc's existing operations to ocean shipping routes will enhance the future import and export of a variety of industrial minerals, thus allowing the company to continue its growth in the "high value-added" micronized fillers market place. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com