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Gold/Mining/Energy : Tahera Corp (TAH) -- Ignore unavailable to you. Want to Upgrade?

To: Brian Fowler who wrote (23)	5/18/1999 6:26:00 PM
From: Wonder Boy	Respond to of 239

Plenty of volume and a lot of large volumes being purchased. I think the price is about to bottom out. Any idea who is doing most of the buying? Something might be up it was very quiet this morning then all of a sudden the volumes picked up really quickly this afternoon. Interesting.

To: Brian Fowler who wrote (23)	6/1/1999 4:22:00 PM
From: Gord Bolton	Read Replies (2) \| Respond to of 239

Tahera Corporation files Jericho Diamond Project proposal (TSE: TAH) TORONTO, June 1 /CNW/ - Tahera Corporation (''Tahera'') is pleased to announce that it has filed the Project Proposal for the Jericho Diamond Project with the relevant regulatory authorities. This filing marks the formal commencement of the environmental assessment and regulatory approval process for the proposed diamond mine at the Jericho Diamond Project. The Jericho Diamond Project, wholly owned by Tahera Corporation, is located in Canada's newest Territory, Nunavut, approximately 420 km northeast of Yellowknife, Northwest Territories, and 170 km northeast of Ekati, Canada's first diamond mine. Project Description The Project Proposal describes the construction and operation of a diamond mine (the ''Jericho Diamond Project'') in Nunavut Territory near the northwest end of Contwoyto Lake, approximately 27 km northwest of the Lupin Gold Mine. Access to the Jericho Diamond Project is provided by winter road and by air. The Project Proposal for the Jericho Diamond Project is based on open-pit mining of the land-based Jericho (JD-1) kimberlite pipe, construction of a processing facility at the Lupin Mine Site, utilization of existing facilities at the Lupin Mine Site (subject to implementing the terms of a Facilities Usage Agreement between Tahera and Echo Bay Mines Ltd., owners of the Lupin Gold Mine), and transportation of ore via an ice road (mid January to mid May) from the Jericho Site to the Lupin Mine Site. The diamond plant will treat kimberlite on a year round basis using conventional diamond processing techniques. Current kimberlite resources indicate that the Jericho Diamond Project will have a mine life in excess of 10 years. Production scheduling of the mining operations will enable the higher-grade phase of the Jericho kimberlite pipe to be mined at an early stage in order to maximize the project economics. It is possible that future kimberlite discoveries (including the recently discovered Contwoyto - 1 pipe) will be developed and thereby extend the life of the project. The capital expenditure estimated to bring the Jericho Diamond Project to commercial production status will be determined during the feasibility study which commenced in May 1999. Tahera believes that the modest scale of the project, the fact that the Jericho Pipe is land-based, and the availability of the existing infrastructure at both the Lupin Mine Site (subject to implementing the terms of the existing Facilities Usage Agreement) and the Jericho Site will all contribute to reducing the capital cost of the project. Project Schedule The preliminary timetable indicates that commercial diamond production at the Jericho Diamond Project could be achieved by late 2001, subject to the permitting and environmental assessment process. Environment Since 1995 Tahera Corporation has conducted an environmental baseline study in addition to exploration and development activities at the Jericho Diamond Project. Local residents and communities, various government agencies and other interested groups have been involved as these activities were carried out. The proposed Jericho Diamond Project will have low impacts in a regional environmental context, and low to moderate impacts in a site-specific environmental context. The fact that the Jericho kimberlite is entirely land-based, an unusual and advantageous occurrence within the region, combined with the intended use of the existing Lupin Mine Site and the existing Jericho Site greatly facilitates the development of the project. Diamond Valuation/Resource Study A 10,500 carat parcel of diamonds from the Jericho Pipe was valued at approximately US$57 per carat (excluding greater than 10.8 carat stones). In 1998, further valuation exercises using the Adtec Valuation System (including greater than 10.8 carat stones), and based on April 1998 diamond prices, indicated a value of US$69.65 per carat for the entire parcel. As part of the feasibility study, Steffen, Robertson and Kirsten, Consulting Engineers and Geoscientists are currently reviewing and updating the previous resource estimate based on additional delineation drilling performed in 1999, the recent review of the valuation of the diamonds, and revised mining parameters. %SEDAR: 00003313E -30- For further information: Grant Ewing, Vice President Investor Relations and Corporate Development, Tel: (416) 777-1998, Fax: (416) 777-1898, Email: investor@tahera.com, www.tahera.com