To: Zardoz who wrote (24975 ) 12/28/1998 9:43:00 PM From: goldsnow Respond to of 116796
Argentina Gold Update 06:39 p.m Dec 28, 1998 Eastern VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Dec. 28, 1998-- Argentina Gold(VSE:ARP.) Argentina Gold Corp. ("Argentina Gold") announced today that its Board of Directors has advised shareholders of Argentina Gold, in its Directors' Circular mailed to shareholders today, not to tender their common shares to the offer by BGC Acquisition Inc., a wholly-owned subsidiary of Barrick Gold Corporation, to purchase all of the outstanding common shares of Argentina Gold at the price of $4.00 in cash per share or to complete any letter of transmittal or notice of guaranteed delivery in respect of the offer until further communication is received by the shareholders from the Board of Directors. Such further communication will be sent to shareholders on or before January 2, 1999. In connection with its assessment of the fairness of the offer, the Board of Directors has retained Loewen, Ondaatje, McCutcheon Limited ("LOM") to provide an opinion as to the fairness of the offer, from a financial point of view, to the shareholders of Argentina Gold. The Board of Directors expects to be in receipt of LOM's opinion on or before December 31, 1998. In addition, the Board of Directors is continuing with its discussions with other potential interested parties in an attempt to attract a superior proposal. In light of the foregoing, the Board of Directors has determined that it is not appropriate at this time to make any recommendation to shareholders of Argentina Gold concerning acceptance or rejection of the offer. ON BEHALF OF THE BOARD J. Patricio Jones, President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Copyright 1998, Business Wire