Cumberland Resources: Corporate Update.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , BRITISH COLUMBIA--(BUSINESS WIRE)--May 28, 1998-- CUMBERLAND Cumberland, former county, England Cumberland, former county, N England. In 1974, Cumberland became part of the nonmetropolitan county of Cumbria. Cumberland, river, United States Cumberland, RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CBD (Component Based Development) Building applications with components (objects). See component software. CBD - component based development .) CUMBERLAND RESOURCES LTD. (CBD-TSE) (the "Company") announces that at the Company's Annual General Meeting held on May 14, 1998, the Shareholders' Rights Plan was defeated by a narrow margin and accordingly is no longer in effect. -0-
Shares Issued: 22,947,081
Fully Diluted: 25,271,581
Working Capital: $8.0 million
Emerging Canadian Gold Projects
Meadowbank (100 percent)
- 1997 Resource of 1.5 million oz. (cut), 1.74 million oz.
(uncut)
- 10,000 m drilling completed in 1998
Meliadine East (50 percent and Operator)
- 400,000 oz. resource
- 30 km eastern extension of Meliadine gold trend.
Meliadine West (22 percent carried to production)
- 3.23 million oz. gold resource
- project moves to pre-feasibility stage
- $7.2 million budget planned for 1998
(38,000 metre drill program)
CONTACT: Cumberland Resources Ltd.
Glen Dickson or Kerry Curtis, 604/608-2557
604/608-2559 (FAX)
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