Barramundi to Secure Financing.VANCOUVER, B.C.--(BUSINESS WIRE)--May 7, 1997--BARRAMUNDI (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. announces its intention to raise a maximum of $C850,000 through the issuance of a maximum of 850,000 Class A and Class B units at a price of $C1.00 per unit. Each Class A unit will be comprised of one (1) flow- through common share plus one half (1/2) of one purchase warrant. Each Class B unit will be comprised of one (1) common share and one (1) purchase warrant. Each whole purchase warrant entitles the holder to acquire one additional common share of the Company for $C1.25 until April 22, 1998 and $C1.50 until April 22, 1999. Barramundi Gold Ltd. is a Canadian company exploring for bulk- tonnage gold deposits on three projects in Yukon, Canada and Queensland, Australia. At the Wandoo Project in Australia, no less than twelve 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. pipes, genetically similar to two nearby multi- million ounce gold producers, and four precious and base metal lode-type occurrences have been discovered. These prospects are being evaluated, with very encouraging results obtained to date (refer to past Barramundi news releases). The Longline long·line n. A heavy fishing line usually several miles long and having a series of baited hooks. long Project on the Canada-Alaska border comprises numerous geological, geophysical, and structural targets, including a gold-enriched quartz vein system that will be drill tested in the coming field season. The Hunker hun·ker intr.v. hun·kered, hun·ker·ing, hun·kers 1. To squat close to the ground; crouch. Usually used with down: hunkered down to avoid the icy wind. 2. Dome Project encompasses most of the historic Klondike goldfield Goldfield, small town, SW Nev., a former gold-mining center. Gold was discovered there in 1902, and after an early period of disappointment, large yields of high quality gold were extracted. , and is one of the largest land packages ever assembled in the area by a single company. -0- NOTE TO EDITORS: THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Barramundi Gold Ltd. (CANADA - HEAD OFFICE) Barbara Henderson, P.Geol., 604/681-7136 604/681-7120 (FAX) or Barramundi Gold Ltd. (CANADA - HEAD OFFICE) Scott Broughton, P.Eng., 604/681-7136 604/681-7120 (FAX) or Barramundi Gold Ltd. (AUSTRALIA) Bob Burban, 011/61-39-606-0233 011/61-39-606-0393 (FAX) |
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