ATEBA MINES INC.WEST HILL, ONTARIO--(BUSINESS WIRE)--MARCH 31, 1995--ATEBA MINES (THE CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :ATBA ATBA Area to Be Avoided ATBA Automatic Test Break Access ) The Ateba Mines Inc. ("ATEBA") Northwest Territories property is tied-on to the eastern boundary of the property on which Mountain Province Mining recently announced a diamond discovery. Ashton Mining of Canada Inc. ("Ashton"), as operator, has taken approximately 90 heavy mineral samples on the property to be tested for kimberlitic indicator minerals. At this stage, Ateba has not been informed of the results of the sampling program. It is anticipated by the Company that further work may take place on the ground in the 1995 exploration season. Ateba originally acquired an option for 60 percent of the property from Noront Resources Limited. Pure Gold Resources Inc. ("Pure Gold") may earn a 40 percent pro-rated interest by spending $500,000 of work on the property. Ateba previously received 30,000 Pure Gold shares for the option and will receive an additional 30,000 shares to continue the option. Ashton has the right to earn a 50 percent pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. interest by completing a 20-ton bulk sample on the property if any kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. is discovered. CONTACT: A. C. A. ("Peter") Howe President, or Lina Noble 416/282-3569 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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