Alamos Minerals Ltd. To Earn A 50% Joint Venture Interest In National Gold Corporation's Salamandra Property.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 17, 2001 Chester Millar, Chairman, Alamos The name Álamos can refer to the following:
See Canadian Venture Exchange (CDNX). :AAS) and Albert Matter, President, National Gold Corporation (CDNX:NGT NGT Night NGT National Grid Transco (UK gas transporter) NGT Nominal Group Technique NGT Not Greater Than NGT Next Generation Technology NGT Next Generation Telecom (China) NGT NASA Ground Terminal ) are pleased to announce that Alamos Minerals and National Gold have entered into a Joint Venture Option Agreement whereby Alamos Minerals may earn a 50% interest in National Gold's Salamandra property. The Salamandra Camp is located in state of Sonora Mexico 220 km east of Hermosillo is host to seven large gold bearing epithermal systems. In excess of US$30 million study has been spent on the property in geological exploration and development programs including a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. . As reported in National's July 13th, 2001 news release, one of these systems alone, the Mulatos Deposit, hosts a 3,400,000 ounce gold resource (1) within 68.8 million tonnes as calculated (by Tendoramex SA de CV.) on the basis of 511 drill holes totaling 295,000 feet and 994 underground samples using a 0.8 gram per tonne cutoff grade. When using a 2 gram per tonne cutoff grade the Tendoramex calculated the higher grade core of the Mulatos deposit (the Estrella Zone) to contain 1.16 million ounces of gold measured and indicated within 11.5 million tonnes grading 3.16 grams per tonne. The Salamandra Camp, while not a currently a producer, is amongst the top 50 largest gold resources in North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. . To earn the 50% interest Alamos, the operator, will be responsible for the expenditure of the next C$2.375 million of exploration, development, metallurgical test leaching, property costs and Vendor payments during the next 12 months. Upon the property being placed into profitable production a further C$2 million will be payable to National Gold Corporation over the following 4 years. As a pioneer of low cost heap leach mining in the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century , Mr. Millar was among the first to initiate and successfully apply the technology. He was one of the founders of Afton Mines Ltd., Glamis Gold Ltd. and Eldorado Corporation Ltd. He is recognized for his participation in the successful start up of numerous heap leach mining operations including the American Girl, Yellow Aster and Picacho Mines in California; the San Andres Mine in Honduras; and the Colorado Mine and Cieneguita Mines in Mexico. Drilling will commence immediately upon equipment mobilization. The Joint Venture Option Agreement which replaces the merger proposed in the July 12th, 2001 news release will be subject to the approval the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) and a finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. is payable by National Gold in connection therewith. ON BEHALF OF THE BOARDS OF DIRECTORS OF: NATIONAL GOLD CORPORATION Albert J. Matter, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ALAMOS MINERALS LTD. Chester F. Millar, Chairman, President & CEO (1) 2.35 million ounces as measured within 43.9 million tonnes grading 1.66 grams / tonne, .59 million ounces as indicated within 13.1 million tonnes grading 1.40 grams / tonne and .54 million ounces as inferred within 3.5 million tonnes grading 1.41 grams / tonne The Canadian Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release. |
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