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Gold/Mining/Energy : Canabrava Diamond -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (962)	3/26/1999 3:22:00 PM
From: Dave Pavlik	Respond to of 2402

I thought I heard they had 3 or 4 mill in the bank?

To: Claude Cormier who wrote (962)	3/26/1999 3:59:00 PM
From: Ross Dickie	Read Replies (1) \| Respond to of 2402

As far as I am aware they have a few $mill in the bank. RD

To: Claude Cormier who wrote (962)	3/26/1999 6:55:00 PM
From: Diamond Daze	Respond to of 2402

Here the deal is outlined...PVF has the money granted it's wallet is not nearly as fat as it was...I think they have 5 million or so left in cash and securities. It may get full here soon though ........DD FOR: CANABRAVA DIAMOND CORPORATION VSE SYMBOL: CNB AND PARAMOUNT VENTURES AND FINANCE INC. VSE SYMBOL: PVF MARCH 18, 1999 Canabrava and Paramount to Develop Rio do Sono Alluvial Diamond Deposits, Brazil VANCOUVER, BRITISH COLUMBIA--Canabrava Diamond Corporation (CNB-V) and Paramount Ventures and Finance Inc., (PVF-V) are pleased to announce that the two companies have signed a joint venture agreement to develop the alluvial diamond deposits on Canabrava's 100 percent owned Rio do Sono Property, Brazil. The Rio do Sono alluvial diamond property is comprised of approximately 15,000 hectares of exploration concessions located near the town of Paredao do Minas, 300 kilometres south of Brasilia in the State of Minas Gerais. Under the terms of the Agreement, Paramount will spend U.S. $1 million to earn a 50 percent interest in the Rio do Sono Project. Once Paramount has earned a 50 percent interest, the joint venture will fund ongoing costs on a pro-rata basis. The joint venture has engaged the services of Baines & Co. to be the Project Manager. Baines & Co., have successfully run alluvial diamond operations in Sierra Leone, Angola and in the Central African Republic. Upon recovery of alluvial diamonds from the Rio do Sono Project, net operating profits will be shared initially as to 45 percent Canabrava, 45 percent Paramount and 10 percent Baines & Co. When Paramount receives the equivalent of U.S. $1 million from its 45 percent share of net operating profits, the distribution will thereafter be 50 percent Canabrava, 40 percent Paramount and 10 percent Baines & Co. Canabrava will be the operator and have the right to market the diamonds. The Property encompasses over 40 square kilometres of diamond bearing terrace, paleochannel and active river channel gravels where local miners have been recovering diamonds for more than 150 years. Large diamond bearing terraces, old river channels and numerous active river channel traps have been inaccessible to the local miners due to a lack of any mechanized equipment. Terrace gravels are between 2 and 12 metres thick while older river channel gravels are much thicker. Four sets of rapids within the Property concessions host hundreds of untouched trap sites and these areas will be the immediate focus of development. Historical production from the Property is unknown, however published reports together with work completed by Canabrava have indicated grades of the terrace and old river channel gravels varying from 0.15 to 0.30 carats per cubic metre. One bulk sample taken in an active river trap returned 3.0 carats per cubic metre. Average stone size is 0.3 to 0.5 points and the largest recovered stone reported to be 18 carats. Historical values of Rio do Sono diamonds is U.S. $140 per carat. Work will begin immediately. Canabrava Diamond Corporation is actively exploring for diamonds in Brazil and Canada and looking at other opportunities worldwide. The Company is 59.6 percent owned by Southwestern Gold Corporation (SWG-T). Paramount Ventures and Finance Inc. is a well financed junior exploration company with copper and gold projects located in Argentina and diamond projects located in Brazil and Canada. Rory O. Moore, President Canabrava Diamond Corporation Jim Owen, Director Paramount Ventures and Finance Inc.