Armada Gold Boosts Stake in Russian Project to 100 Percent.TORONTO--(BUSINESS WIRE)--March 24, 1998--Armada Gold Corporat(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AAU AAU abbr. Amateur Athletic Union .) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :AAU.) Armada Gold Corporation announced today that it has agreed to acquire the final 15 percent equity in the Baley Gold Project through taking its shareholding in Balgold Limited to 100 percent. Armada will issue 3 million Armada Gold shares to shareholders of its Russian Baleyzoloto to complete the transaction. The transaction is subject to the approval of the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and all other regulatory authorities. Balgold owns licenses covering several gold deposits which together form the Baley Gold project in southeastern Siberia. The largest of the deposits is the Taseevskoe resource containing more than 5 million ounces of gold. Armada completed 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. using Kvaerner Metals Davy Ltd. Of Toronto in October 1997 on this large epithermal gold deposit. Armada also has a 49 percent interest in the Erdmin copper project in Mongolia, which is producing ten tonnes of copper cathode a day from a demonstration plant and is presently subject to a feasibility study for a six-fold expansion of the operation. In addition, the company wishes to announce that Investor Relations Investor relations The process by which the corporation communicates with its investors. will now be undertaken from its Toronto office. Beginning April 1, 1998, Investor Relations can be reached toll- free at 1-800-517-1119. The common shares of Armada Gold are listed on the Toronto Stock Exchange and the Alberta Stock Exchange under the symbol AAU. U.S. S.E.C. Exemption: 12g3-2(b) 82-3965. CONTACT: Armada Gold Corp., Toronto Ross Orr, 416/777-0878 or Armada Gold Corp., Toronto Chris Cory, 416/777-0878 |
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