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Gold/Mining/Energy : Nuinsco Resources (NWI) -- Ignore unavailable to you. Want to Upgrade?

To: 4TNiner who wrote (2871)	4/1/1999 11:36:00 PM
From: Mr. Oil	Read Replies (2) \| Respond to of 5821

I thought I would post this as it refers to the NWI discovery as being very encouraging. I didn't see it posted here yet. I put the interesting bits in bold. biz.yahoo.com Levelland Energy & Resources Ltd. Secures Claims in Significant Rich Nickel Discovery Area VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 3, 1999-- Levelland Energy & Resources Ltd. (LVL.V), a junior resource company actively involved in the business of mineral exploration throughout the world, Tuesday announced that it has staked 106 mineral claims (approximately 4,200 acres) in the Lae Rocher region of Northwest Quebec. Lae Rocher is the site of a large nickel/copper discovery announced by Nuinsco Resources Ltd. (Toronto:NWI - news). Recently, Nuinsco reported a discovery hole with nickel values of 10.8% over 3.2 metres (10.5 feet) at the base of the hole and 3.68% over 19 metres (62.3 feet) within a longer section of 37 metres (121.4 feet) that assayed 2.47% nickel. Levelland's ground is approximately 16 miles to the northeast and on trend to the discovery. While resource companies have been overshadowed by Internet stocks such as Amazon.com , Yahoo , Excite , Netscape , America Online , EBAY , E-Trade Group , AmeriTrade Holding , Lycos , uBid , Geocities , and theglobe.com , Levelland Energy & Resources has been searching for value properties and preparing the company for the inevitable turnaround in the mining sector. ''We are excited and regard this result as a new and very significant discovery in a region that has received very limited exploration,'' stated Levelland Energy & Resources Ltd. President Don Coates. Previously, the largest nickel reserves were discovered by Diamond Fields International (Toronto:DFI - news) in Voisey Bay with values of 2 percent. The Lae Rocher region in which Levelland's claims are located appear to have substantially greater values. With current market prices of nickel being $1.93 per pound, a 200 pound valuation would equal $386 per ton. ''These very encouraging results require a full evaluation of the economic potential of the discovery and the best strategy for continued work,'' stated Coates. Statements in this news release may contain forward-looking information within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934, and is subject to the safe harbor created by these sections. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of Levelland Energy & Resources Ltd. are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Levelland Energy & Resources Ltd. assumes no obligation to update information contained in this release. S.E.C. 12g 3-2(b)-No. 82-3590 __________________________________________________________ It would seem very plausable that NWI will pull up another core somewhere that will excite the market. In my opinion the market got spooked by the FP article and the evident support at the 1.25 level seen the day before yesterday gave way. Once the panic subsided and folks realized the strong likelihood of the company being onto something significant, we have rebounded. Evidence that the true support for this play at it's current stage is about the 1.25 level. If the boys are drilling all week end Monday may have a few surprises for the market and we will rock next week. I am in this for a little while and maybe for a long while depending on how they do. I would encourage the shareholders who sold yesterday out of fear to ask themselves this question. Are you investing what you can't afford to loose? If so don't do it. If not why not let the results of the drilling program dictate you buying and selling decisions. Not the negative hype of the press. Panic selling is very frequently a mistake, especially during a drilling program. Good luck to all! Go NWI...and that is my nickles worth. Ray