Argosy acquires 100 percent of Kremnica Gold Project.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 30, 1997-- Argosy Mining Corp. (VSE See DOS/VSE. VSE - Virtual Storage Extended :AGO.) is pleased to announce that it has reached agreement with its joint venture partner, Kremnica Banska Spolocnost ("KBS (KiloBits per Second) Could also be KBs for kilobytes. See Kbps and kilo. KBS - Knowledge-Based System "), to purchase 100 percent of the Kremnica Mining Licence and surface properties within the Kremnica mining area. Argosy will pay C$250,000 to KBS by May 10, 1997 as the first installment for the purchase of the Kremnica Mining Licence. Argosy must make two additional annual payments to KBS totalling C$500,000 prior to Dec. 31, 1998. Argosy has also acquired land, maintenance and warehouse facilities from KBS for approximately C$350,000. These newly acquired properties will be essential to mining activities at Kremnica. ON BEHALF OF THE BOARD YALE R. SIMPSON, President CAUTIONARY STATEMENT -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the contents of this News Release. This News Release includes certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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 Vancouver Stock Exchange, 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 Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities . 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. CONTACT: Argosy Mining Corp. Yale R. Simpson, 604/689-5529, 604/689-5079 (FAX), 800/851-7423 www.argosy-mining.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion