Argosy Receives First Cash Payment from Norilsk Nickel.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 31, 2001 Argosy Minerals Inc. (CDNX CDNX See Canadian Venture Exchange (CDNX). :AGY AGY Agency .) (ASX ASX See: Australian Stock Exchange :AGY.) is pleased to announce receipt of US$7.166 million from NN Investment Holding SA, a subsidiary of Norilsk Mining Company. This payment is the first installment in the previously announced series of scheduled payments to be made by Norilsk, in conjunction with achieving specific project milestones, that over a period will enable Norilsk to obtain a 90% stake in the Nakety / Bogota project. The first phase of the feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. has already commenced with technical and commercial meetings in Moscow currently under way between representatives of Argosy, Norilsk, GiproNickel and Bateman. ON BEHALF OF THE BOARD Peter H Lloyd, Chief Executive Officer CAUTIONARY STATEMENT This News Release includes certain "forward-looking statements" within the meaning of Section 21E of the U.S. Securities and Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential 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 reserves, exploration results, and future plans and objectives of Argosy, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Argosy's expectations are disclosed under the heading "Risk Factors" and elsewhere in Argosy's documents filed from time to time with the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. , the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission and other regulatory authorities. All subsequent written and oral forward-looking statements attributable to Argosy or persons acting on its behalf are expressly qualified in their entirety by this notice. Argosy Minerals Inc. is a limited liability corporation registered under the Yukon Business Corporations Act. |
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