Brex Acquires Diamond Property in Guyana; Total Guyana Land Position Now 67,000 Acres.VAL D'OR Val d'Or (väl dôr), town (1991 pop. 23,842), SW Que., Canada, SE of Rouyn-Noranda. It is a mining center. Gold was discovered in the region in 1909; copper, zinc, lead, and molybdenum are also mined. , Quebec--(BUSINESS WIRE)--March 25, 1997--(ME BX.) Exploration Brex Inc. today announced, subject to regulatory approvals, that it has agreed to acquire 100 percent of a diamond exploration property contiguous to the Company's Eping-Perenong property in northwestern Guyana, acquired in January, 1997. The new property, named the Eping-Perenong Extension, consists of 26,000 acres at the headwaters of the Mazaruni River The River Guyana's Mazaruni River takes source in the Roraima Plateau, three levels of sandstones and conglomerates, crowned by Mt. Roraima (2810 m.). In Guyana, the two highest levels of the Roraima Plateau are known as Pakaraima Mountains and Merume Mountains. , in an area of alluvial al·lu·vi·al adj. Of, relating to, or found in alluvium: alluvial soil; alluvial gold. alluvial Adjective of or relating to alluvium Noun diamond production. Michel David Michel David (born in 1951) is a Quebecois journalist. He is in the field since 1978 and is currently columnist for the Montreal newspaper Le Devoir. David was parliamentary correspondent at the National Assembly of Quebec for Quebec City's Le Soleil , President, said he is gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that Brex has been able to significantly expand its land position in mineral-rich, under-explored Guyana. The Company's total land position in Guyana, including the Eping-Perenong Extension, now consists of more than 67,000 acres (104 square miles). Purchase price, including alluvial rights, is U.S.$10,000 and 200,000 shares of Brex. The Company has also agreed to spend $150,000 on exploring the property in the first year. The previous owner of the property will retain a 2 percent net smelter return that the Company can purchase for US$350,000 at any time. The government of Guyana retains a 5 percent royalty, as it does on all mining properties in the country. At Brex's Aremu property in central Guyana, exploration continues with further trenching and sampling to better define targets on three gold-bearing zones. A diamond drill program will commence shortly. Geophysical work has now been completed on the property. Exploration Brex Inc. is an exploration company with properties in Nevada, Guyana and Quebec. In Nevada, the Company is currently exploring on its 50 percent-owned Section 12 gold property located in the prolific Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] Trend. At Brex's 100 percent-owned Aremu gold property in Guyana, which is in the same geological province as the Omai gold mine, the Company has a trenching and sampling program in progress. It also has a diamond and other gold properties in Guyana, in addition to base metal and gold projects in Nevada and in Canada. Shares of Exploration Brex Inc. trade on The Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg under the symbol BX. U.S. S.E.C. exemption 12g3-2(b) 82-4269. Visit our internet site at http://lino.com/www/ariel CONTACT: Exploration Brex Inc. Michel David, 819/ 825-9065 ariel@lino.com or Hume, Kieran Inc. Marla Gale, 416/ 868-1079 or Hume, Kieran Inc. Cathy Hume, 416/ 868-1079 |
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