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Gold/Mining/Energy : AMP.C Asia Minerals - About to take off: -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (129)	5/3/1999 11:07:00 PM
From: Rick Buzzeo	Respond to of 135

anyone been talking to IR lately or have any news?

To: baystock who wrote (129)	11/23/1999 11:22:00 PM
From: Dan P	Read Replies (1) \| Respond to of 135

News on Asia Minerals: stock up to .28 from .14 two days ago on huge volume, esp. yesterday, when it traded over 3 million shares. Regards Dan Here is the release: Asia's shares owned by Royal Oak Mines to be sold Asia Minerals Corp AMP Shares issued 29,781,605 Nov 22 close $0.20 Tue 23 Nov 99 News Release Also Royal Oak Mines Inc (RYOM) Ms. Lucy Liu reports Asia Minerals has been advised that 426531 B.C. Ltd. has entered into an agreement of purchase and sale with PricewaterhouseCoopers Inc., for the purchase by 426531 of 12,256,250 common shares of AMC owned by Royal Oak Mines Inc. at a total price of $1,169,859.06. PWC is the interim receiver of RYO. The agreement of purchase and sale is a private transaction between 426531 and PWC. AMC has also been advised that 426531 has agreed to assign all of its rights to acquire the shares to a group of private investors. Each of the investors will be acquiring AMC shares with a value in excess of $97,000, however, no individual investor will acquire a sufficient number of shares such that the investor would own greater than 10 per cent of the issued and outstanding common shares of AMC. At no time will 426531 acquire the legal or beneficial interest in the 12,256,250 AMC shares. 426531 is a private company owned by David C. Owens and Kathleen L. Owens. Mr. Owens is the president of AMC and held a right of first refusal to purchase the AMC shares owned by RYO. The agreement of purchase and sale is subject to a number of conditions for the benefit of both 426531 and PWC including court approval in the Ontario bankruptcy proceedings for RYO. PWC reported the fundamental terms of the agreement of purchase and sale in the interim receiver's 17th report to the Ontario Court dated Oct. 21, 1999. Corporate news Asia is pleased to report that the company has entered into an engagement agreement with Canaccord Capital Corporation, whereby Canaccord will assist Asia in arranging equity financing for: 1) the continuing exploration and development of the Copperstone gold property in Arizona; 2) the acquisition of exploration assets; and 3) general working capital requirements. Asia is also pleased to report that David C. Beling of Safford, Ariz., was elected as a director of the company at a board meeting held on Sept. 9, 1999. Mr. Beling is a mining engineer with extensive experience in the development and management of underground gold mines in Canada and the United States. Copperstone gold project Asia owns a 25-per-cent interest in the high-grade Copperstone gold project and has an option to earn up to an 80-per-cent interest. In February, 1999, MRDI Canada completed a scoping study of an underground mine to develop high-grade resources discovered in the C and D zones to the north of the old Cyprus Minerals open pit mine which produced 500,000 ounces of gold (see Stockwatch Feb. 24, 1999). MRDI estimated that the C and D zones contain undiluted geological resources totalling 2,085,900 tons at an uncapped gold grade of 0.58 of an ounce per ton and a capped gold grade of 0.34 of an ounce per ton. The contained gold in the uncapped and capped resources is 1,209,800 ounces and 708,900 ounces. The MRDI scoping study outlined a conceptual underground mine to develop a resource of 827,400 tons grading 0.555 of an ounce per ton gold in the C and D zones at a mining rate of 520 tons per day. Capital costs were estimated to be $22.54-million (U.S.) and operating costs $74.52 (U.S.) per ton of ore processed. A pretax cash flow analysis of the project based on a gold price of $300 (U.S.) per ounce indicated robust economics, including an internal rate of return of 45 per cent, a net present value of $18.18-million (U.S.) and a cash cost of production of $149 (U.S.) per ounce. MRDI recommended that Asia proceed with a full feasibility study to establish the economic viability of a new Copperstone underground mine. This study would include surface and underground drilling to define and expand the mining reserves. Diamond drilling to date has not fully defined the limits of the C and D zones, and the north strike extension of the Copperstone fault, the major control to mineralization, has not been drilled tested over a 6,000-foot interval. In addition, drill hole intersections of high-grade gold mineralization in the footwall and hangingwall of the known deposit indicate further potential to discover new zones of mineralization on the Copperstone property. WARNING: The company relies upon litigation protection for "forward-looking" statements.