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International Taurus Resources Inc ITS:VSE Company Profile Fundamental Analysis International Taurus Resources Inc. has experienced recent changes that have positioned the company to quickly evolve into one of North America's premier mining exploration companies. On April 2nd, 1998, Mr. Steven E. Parry (now Chairman and CEO) and Mr. Robert B. Blakestad (now President and COO) took the helm at International Taurus. Mr. Parry and Mr. Blakestad have some 50 years of combined experience in the mining industry and together are responsible for the discovery and acquisition of more than 13 million ounces of gold. Already the new management team has achieved several of its near-term objectives that should ensure the long-term success of the company. The new management team has acquired the Vancouver exploration facilities of Cyprus Canada Inc. and has assembled a well-known team of senior exploration professionals who bring an assortment of specialized skills to the company. As well, an option agreement to acquire a 100% interest in the Lyon Deposit in Nevada has successfully been negotiated. The Lyon Deposit, which has a resource of four billion pounds of copper with significant gold and magnetite iron, is considered to be one of the prime high-grade copper opportunities in the Americas today. A recent financing raising $1,000,000 has been completed and will partially fund International Taurus' 1998 exploration programs and help fund the acquisition of up to 52 new mineral properties currently under negotiation. Company Management A critical element in International Taurus' potential for success is its new management team. The company possesses technical and managerial resources that rival many senior mining organizations. Steven E. Parry, Chairman and CEO, has 20 years of mining experience, most recently as North American Exploration Manager for Cyprus Amax Minerals Company. Mr. Parry is responsible for the discovery of more than 3 million ounces of gold and has served as director and/or chairman of a number of industry organizations including the Prospectors and Developers Association of Canada. Mr. Parry holds a Bachelor of Science degree from Queens University and a Master's degree from the University of Western Ontario. Robert B. Blakestad, President and COO, has 30 years of extensive worldwide mining exploration and development experience. Before joining International Taurus, Mr. Blakestad was Vice President, Exploration for Amax Gold Inc. Mr. Blakestad is credited with the discovery of more than 10 million ounces of gold, mainly through generative exploration. He holds a Bachelor of Science degree from the New Mexico Institute of Mining and Technology and a Master's degree from the University of Colorado. The rest of the management team includes senior mining, securities, legal, marketing and finance specialists who bring many years of successful experience to the Company. Projects Lyon Project, Nevada International Taurus has recently acquired, subject to regulatory and corporate approvals of the formal contract, a 100% option on the Lyon Project, western North America's largest undeveloped copper-gold-magnetite iron deposit. The 5,240-acre Nevada property has been optioned from Cyprus Metals Exploration Corporation, a wholly owned subsidiary of Cyprus Amax Minerals Company, for cash and/or stock payments of US$3.25 million and work expenditures of US$4 million over three years. Since USX Corporation's discovery of the deposit in 1960, drilling has defined a bulk-mineable resource of more than 4 billion pounds of copper and 108 million tons of magnetite iron. The resource includes three high-grade copper-magnetite-gold skarns (a skarn is the rock-type hosting the mineralization) totaling 12 million tons of 3.41% copper. Two of the mineralized zones host magnetite iron, a readily marketable feed material used in the production of direct reduced iron and in electric arc furnace steel plants. The high-grade skarns have only been partially defined by 44 drill holes spaced as much as 250 feet apart. Because previous drilling was oriented for the bulk mineable mineralization, the high-grade zones remain open to significant expansion. International Taurus believes simple step-out drilling can as much as double the current resource. Initial economic studies conducted by International Taurus indicate a robust project once a core reserve of one to two million tons grading 5% copper is defined within the existing deposits. This core reserve will be the focus of the Company's planned $1,000,000 work program in 1998, which will include a detailed magnetic survey in June followed by a 20,000 foot drill test for high-grade mineralization (more than 5% copper) in two of the zones. The third zone will be subjected to a step-out drilling program. Contingent on the success of the drill program, a prefeasibility study is scheduled to commence in September and will address hydrologic, geotechnical and mine engineering issues. International Taurus' near-term goal for the Lyon Project is to develop a 75 million pound per year copper producer. The potential for associated production of a high-grade magnetite iron co-product adds significant value to the project in light of worldwide increases in direct reduced iron production as well as increases in the price of competing scrap iron. With rail, gas and electrical power supply available within a few miles of the project, and the town of Yerington, Nevada located five miles to the northwest, technical and infrastructure concerns are minimized. Corporate Profile International Taurus Resources INC. Symbol: ITS-VSE As of May 5, 1998 Price: $0.47 52 Week Hi/Low: $0.06 - $1.50 Avg. Daily Volume: 50,000 Shares Outstanding: 26,701,339 Highlights * International Taurus has a new management team led by senior mining professionals Steven E. Parry (Chairman and CEO) and Robert B. Blakestad (President and COO) who have assembled an expert team of exploration, legal, securities and marketing professionals. * The company has acquired a 100% option on the Lyon Deposit in Nevada, which contains over four billion pounds of copper with significant gold and magnetite iron. The project is considered to be one of the best high-grade copper opportunities in the Americas. * A recently completed $1 million financing will fund the company's 1998 exploration program which is designed to bring the Lyon Project to the pre-feasibility study stage by fall of this year. * The newly created management team is currently negotiating for 52 other prime mineral properties located in the Americas. * Additional Information For additional information and/or a free brochure please contact the company at the following: International Taurus Resources Inc. Website: intl-taurus.com Email: mailto:info@intl-taurus.com Toll Free: 1-888-827-6611 (U.S. & Canada) GMT Newsletter stock pick for May 98 - ITS:VSE globalminerals.com | ||||||||||||||
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