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AMAX GOLD FINALIZES ACQUISITION OF REFUGIO PROJECT

 GOLDEN, Colo., Jan. 14 /PRNewswire/ -- Amax Gold Inc. (NYSE: AU; Toronto: AXG) has announced the completion of the acquisition of a 50 percent interest in the Refugio Project in central Chili for 3.15 million restricted shares of common stock. The property will be held by Compania Minera Maricunga which is owned 50 percent by Amax Gold and 50 percent by Bema Gold Corp.
 The Refugio Project contains 3.3 million ounces of proven and probable gold reserves. The feasibility study on the project is complete, and efforts to secure financing are underway.
 Amax Gold produces and explores for gold in North and South America and New Zealand and is listed on the New York and Toronto stock exchanges. Amax Gold warrants trade on the American Stock Exchange under the symbol AUWT and on the Toronto Stock Exchange under the symbol AXGWT.
 -0- 1/14/93
 /CONTACT: Gina Wilson of Amax Gold, 303-273-0623/
 (AU)


CO: Amax Gold Inc. ST: Colorado IN: MNG SU:

BB -- DV006 -- 4918 01/14/93 13:28 EST
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Publication:PR Newswire
Date:Jan 14, 1993
Words:172
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