Barramundi Gold: Financial Agent Appointed.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Aug. 22, 1997--Barramundi Gold Ltd. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). BAM Bam (bäm), town (1996 pop. 70,100), Kerman prov., SE Iran, on the intermittent Bam River. Located on the western edge of the Dasht-e Lut, Bam is a trade center in a henna-growing region. Dates and other fruits are also grown; camels are raised. .) Barramundi barramundi see lates calcarifer. Gold Ltd. has appointed IBK IBK see infectious bovine keratoconjunctivitis. Capital Corp. as their financial agent to assist the Company in completing a private placement offering, for proceeds of up to $5 million, subject to regulatory approval. This offering is being made to IBK's extensive group of contacts in Europe and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , and concurrently, to contacts of the Company through an Offering Memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. dated July, 1997. The proceeds of this financing will be used for the advancement of Barramundi's three exploration projects, and for working capital. Compensation to IBK for their services will consist of a 9 percent commission on funds raised through their network. IBK Capital is an independent Canadian financial advisory firm that has assisted in the completion of over $650 million in transactions since 1989. Upon completion of the first $1 million of this financing, Barramundi will commence a 1,300 metre, 18-hole diamond drill program to test a series of shallowly dipping, gold-enriched sheeted quartz veins on its Longline long·line n. A heavy fishing line usually several miles long and having a series of baited hooks. long Project, located in the Yukon Territory, Canada. The Company will also begin an aggressive surface exploration program, culminating in a diamond drill program, on its Muldiva polymetallic showing on the Wandoo Project in Queensland, Australia (see N.R. June 18, 1997). -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Barramundi Gold Ltd. Ms. Barbara Henderson, P.Geol., 604/681-7136 604/681-7120 (FAX) CANADA - HEAD OFFICE or Barramundi Gold Ltd. Mr. Scott Broughton, P.Eng, 604/681-7136 604/681-7120 (FAX) CANADA - HEAD OFFICE or Barramundi Gold Ltd. Mr. Bob Burban, 011/61-39-606-0233 011/61-39-606-0393 (FAX) AUSTRALIA |
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