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Gold/Mining/Energy : PolyMet Mining Corp POM.V (was Fleck Resources) -- Ignore unavailable to you. Want to Upgrade?

To: Russell Gish who wrote (625)	4/12/1999 5:05:00 PM
From: GWalker	Read Replies (1) \| Respond to of 708

PolyMet's 1.4 Million Unit Private Placement Has Closed GOLDEN, Colo., April 9 /PRNewswire/ -- PolyMet Mining Corporation (Vancouver: POM.) is pleased to announce that the private placement mentioned in its News Release 99-8 of March 4, 1999 has closed. The Company sold 1.4 million units at CDN $1.08 per unit for gross proceeds of CDN $1,512,000. Each unit consisted of one share and one warrant entitling the holder to purchase one additional share for a period of two years, at CDN $1.10 during the first year and CDN $1.25 during the second year. The warrants are nontransferable. The shares and any shares issued upon exercise of the warrants are subject to a hold period, which expires July 31, 1999. Proceeds of the offering will be used to fund PolyMet's ongoing metallurgical testing and other project development activities at its NorthMet Project in northern Minnesota. The Company paid a finder's fee of CDN $90,720 in respect to the private placement. PolyMet expects the pressure oxidation metallurgical testing to be completed in late April. Results will be announced soon thereafter. Bio-oxidation testing of NorthMet bulk concentrate is ongoing and encouraging. Final results of the bio-oxidation tests are expected at the end of May. The Company expects to select a metallurgical process or combination of processes in June. For further information, please contact Leslie Landefeld, Investor Relations, at the Company headquarters in Golden, Colorado at 877-233-4831. You may also visit the Company's web site at www.polymetmining.com. This news release was prepared by Leslie A. Landefeld on behalf of PolyMet Mining Corporation, which is solely responsible for its contents. The Vancouver Stock Exchange has neither approved nor disapproved the information herein. SOURCE PolyMet Mining Corporation -0- 04/09/99 /CONTACT: Leslie Landefeld, Investor Relations of PolyMet Mining Corporation, 877-233-4831/