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Gold/Mining/Energy : Cross Lake Minerals CRN -- Ignore unavailable to you. Want to Upgrade?

To: wayne cath who wrote (3528)	4/26/1999 8:33:00 PM
From: wayne cath	Read Replies (1) \| Respond to of 3650

Fairhaven to earn 30% of Cross Lake's Mortimer property Cross Lake Minerals Ltd CRN Shares issued 31,877,109 Apr 23 close $0.40 Mon 26 Apr 99 News Release Also Fairhaven Resources Ltd (FRH) Ms. Kristina Kalmet and Mr. Naren Majithia report Cross Lake Minerals has agreed to grant Fairhaven Resources the right to earn a 30 per cent interest in the Mortimer property, comprised of six mining claims (96 units) in Mortimer Township, Larder Lake Mining Division, Ont., 75 kilometres northeast of Timmins. In order to earn the interest, Fairhaven must incur $60,000 in flow-through expenditures on the property. Cross Lake will act as operator and carry out a diamond drilling program of approximately 700 metres, which must be completed by July 31, 1999. The program is planned to test several coincident airborne electromagnetic, ground horizontal loop electromagnetic and induced polarization anomalies. These are very attractive targets for base or precious metal mineralization and work is expected to commence within two weeks. The first phase of 1999 drilling continues on Cross Lake's 100 per cent held Sheraton-Timmins property, 60 kilometres south of the Mortimer property, and will be followed by borehole pulse EM surveys. This program is expected to continue until early May. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com