Barramundi Gold: Joint Venture Agreement Finalized with Normandy Mr. Leyshon Limited.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 16, 1998-- Barramundi barramundi see lates calcarifer. 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 Gold Ltd. ("Barramundi") is pleased to announce that it has entered into an arms-length joint venture agreement with Normandy Mt. Leyshon Limited ("NML (language) nML - A specification language for instruction sets, based on attribute grammars, for back-end generators. ["The nML Machine Description Formalism", M. Freericks <mfx@cs.tu-berlin.de> TR TU Berlin, FB20, Bericht 1991/15]. ") for the exploration of Barramundi's 1,000 square kilometre Wandoo property in North Queensland, Australia. The agreement was entered into on behalf of Mangrove mangrove, large tropical evergreen tree, genus Rhizophora, that grows on muddy tidal flats and along protected ocean shorelines. Mangroves are most abundant in tropical Asia, Africa, and the islands of the SW Pacific. Jack Pty. Ltd., a 92 percent owned Barramundi subsidiary and holder of the Wandoo Option. NML is a member of the Normandy Group and is Australia's largest gold producer, with annual production of 1.5 million ounces. NML is also the owner/operator of the Mt. Leyshon gold mine, also in North Queensland, which produces 200,000 ounces gold per annum. Barramundi's exploration work to date has identified several Mt. Leyshon style breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. pipe targets on the Wandoo property. The agreement allows NML to earn up to 70 percent interest in the property by incurring exploration expenditures of $2,500,000 over the four year term of the agreement, including $250,000 in the first six months. NML will be the operator of the exploration program and has already mobilised a geological crew to the site. The joint venture will enable continued exploration of the Wandoo property and allow Barramundi to focus efforts on exploration of its Longline long·line n. A heavy fishing line usually several miles long and having a series of baited hooks. long property in the Yukon Territory. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
CONTACT: Barramundi Gold Ltd.
Scott Broughton, P.Eng., 604/ 681-7136
604/ 681-7120 (FAX)
or
Barramundi Gold Ltd.
John Haley, FCA, 604/ 681-7136
604/ 681-7120 (FAX)
or
Barramundi Gold Ltd.
Bob Burban, 011/61-39-606-0233
011/61-39-606-0393 (FAX)
Melbourne, Australia
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