Consolidated Silver Tusk Mines Ltd. Company Update.VANCOUVER, British Columbia--(BUSINESS WIRE)--June 22, 1998-- Consolidated Silver Tusk Mines Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CSITF)(VSE See DOS/VSE. VSE - Virtual Storage Extended :CKS CKS Checks CKS Center for Korean Studies (UC Berkeley) CKS Center for Knowledge Societies CKS Carajas, Para, Brazil - International / Brasilia Brazil (Airport Code) CKS Crankshaft Sensor ) and its Indonesian partner Pt. Metro Astatama are very pleased with the successful renegotiation and revision of the Karya Bukit Utama property concession payments (News Release, June 4, 1998). -0-
Total Price: $6,500,000USD
Paid: $1,250,000USD, to date.
Revised: $350,000USD payable by next July 1, 1999, and
no payments in the following year.
The balance of the property payments is payable in increments over the following 5 years, until 2005. This successful negotiation allows the company to continue to focus on expanding the exploration and development of the known mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones on the 926 hectare Karya Bukit Utama property, in order to increase the inferred mineral resource of 14,790,125 tonnes estimated by David Dunn David John Ian Dunn (born December 27, 1979 in Great Harwood, England) is an English footballer who currently plays for Blackburn Rovers as a midfielder. Playing career Blackburn Rovers , P.Geo. The inferred mineral resource is estimated at this time to contain 1,031,980 troy ounces of gold equivalent, based on a weighted average grade of 1.165 grams of gold per tonne and 48.35 grams of silver per tonne (News Release dated Jan. 19, 1998). The property has been permitted for exploitation, including mining, milling, smelting smelting, in metallurgy, any process of melting or fusion, especially to extract a metal from its ore. Smelting processes vary in detail depending on the nature of the ore and the metal involved, but they are typified in the use of the blast furnace. , refining and sales. The bulk pilot plant purchased and erected by RMS-Ross, at no direct cost to Consolidated Silver Tusk (News Release dated Oct. 2, 1997), is currently "on stream," continuing to provide pertinent information for the further exploration and development of the property. The company President, Thomas R. Tough, P.Eng., and directors, Terry Plummer and Robert Needham, P.Eng., have just been on-site at the Karya Bukit Utama to observe the operations firsthand. On Behalf of the Board, (signed) Thomas R. Tough, P.Eng, President For the latest photographs of the mill site, the bulk testing plant operation and other aspects of the project, please refer to the company's website at http://www.silvertusk.com The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.
CONTACT: Consolidated Silver Tusk Mines Ltd.
Thomas R. Tough, 604/602-1088
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