Antares Mining & Exploration Corp. and AGC Americas Gold sign letter of intent on Toodoggone properties.TORONTO--(BUSINESS WIRE)--June 12, 1997--Antares Mining and Exploration Corporation and AGC AGC Automatic Gain Control AGC Automotive Glass Cartridge (fuse) AGC Associated General Contractors AGC Associated General Contractors of America AGC Atypical Glandular Cells AGC Attorney-General's Chambers Americas Gold Corp. (AGA - VSE See DOS/VSE. VSE - Virtual Storage Extended ) (AGCFF - NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on ) are pleased to announce that they have signed a letter of intent to form a joint venture on AGC's existing mineral interests in the Toodoggone area of northern British Columbia. As part of the agreement, Antares will purchase a $500,000 private placement of AGC common shares if satisfied with an initial due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. of AGC to be conducted by June 30. By purchasing the private placement, Antares will earn an option to acquire a 55% interest in the applicable properties by spending a total amount of $5,000,000. Antares will have an option to purchase a further 5% for $4,500,000. The transactions are subject to Antares being satisfied with the results of its due diligence review and to regulatory approvals. The Toodoggone camp contains widespread epithermal gold-silver vein mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. and porphyry copper gold prospects in Lower Jurassic Age volcanic rocks. A comprehensive Landsat and integrated study has outlined alignment of mineral showings, collapsed calderas and large alteration zones along graben faults and subsidiary breaks. The Toodoggone camp is considered under explored and Antares has entered the joint venture with the idea of exploring for bulk tonnage epithermal gold-silver deposits. Antares is funding a major exploration program including helicopter borne magnetic surveys, diamond drilling of known high grade vein deposits, detailed surface prospecting, mapping and sampling. The field crew has been mobilized. In addition to its 45% interest in and operatorship of the extensively mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. Ojolali gold and silver property in Sumatra, Indonesia, Antares has a 24.75% beneficial interest in Rappa Holdings (Proprietary) Ltd., a profitable South African based gold recovery operation, a 43% interest in the producing Lady Lina gold mine in Zimbabwe as well as over $14,000,000 in cash. -0- No Stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained CONTACT: Antares Mining and Exploration Corporation Dennis Gray, chairman & 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. Robert Yeoman, VP, 416/861-9940 fax: 416/861-0057 |
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