Corporate Profile for Mt. West Resources Inc., dated Nov. 1.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company, Prodigy, Comtex, and many others. -0- Published Date: Nov. 1, 1996 Company Name: Mt. West Resources Inc. Address: 1620-701 W. Georgia St. Main Telephone Number: 604/684-6276 Fax Number: 604/682-2925 Chief Executive Officer: Brent Johnson Investor Relations Contact: Dale Schwartzenhauer Business number: 541/938-7517 Fax: 541/938-7486 e-mail address: nwcc@bmi.net Trading Symbol: VSE: MWR Industry: Energy and precious metal exploration Company description: Mt. West Resources is a Canadian-based mineral exploration company with significant precious metal and energy interests in the United States and West Africa. The company is a participant in the Elkhorn Gold Project, a joint venture whereby Santa Fe Pacific Gold can earn a 50 percent interest by expending $1.7 million over 10 years. The Elkhorn project has an estimated geological resource of about 270,000 ounces of gold, which could expand to 500,000 ounces or greater upon drilling of three additional pipes. The possible existence of a deeper "skarn skarn In geology, a metamorphic zone developed in the contact area around igneous rock intrusions when carbonate sedimentary rocks are invaded by and replaced with chemical elements that originate from the igneous rock mass nearby. " deposit could add immensely to the project as the source of gold is thought to be on Mt. West's claims. Mt. West is participating for a 30 percent interest (15 percent APO apo- 1 A prefix indicating a protein component in a conjugated molecule–eg, apoferritin, apolipoprotein, see there 2 Apolipoprotein, see there ) in the highly prospective Bacon Island gas prospect, located near Stockton, Calif. The prospect is positioned along the Meganos Gorge productive trend which has proven 500 billion cubic feet (BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter ) of natural gas. One well about 4-1/2 miles to the west encountered 170 feet of net pay and initially produced at 20 million cubic feet per day. Potential reserves of the Bacon Island target are estimated at 50-100 BCF of gas, which could sustain up to four wells at 5 million cubic feet per day for 15 years. At current prices of $2.70/MCF, the annual cash flow to Mt. West could be about $4 million, or almost 50 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . CONTACT: Mt. West Resources Inc. |
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