Cypango Ventures -- agreement to acquire interest in claims.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. , B.C.--(BUSINESS WIRE)--Feb. 15, 1996--The company has entered into an agreement with Inukshuk An inuksuk (plural inuksuit) [1] (from the Inuktitut: ᐃᓄᒃᓱᒃ, plural ᐃᓄᒃᓱᐃᑦ; alternatively inukshuk in English [2] or inukhuk in Inuinnaqtun [3] Capital Ltd. to acquire an 80 percent undivided interest undivided interest n. title to real property held by two or more persons without specifying the interests of each party by percentage or description of a portion of the real estate. in 75 claims known as the ZL West claims. These additional claims are situated west of the previously announced ZL 1-58 claims (Jan. 8, 1996) and are north and adjacent to the AK claims which host the 5034 kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. pipe of Mountain Province Mining Inc. and Glenmore Highlands. The terms of the agreement call for: 1. An initial cash payment of $100,000.00. 2. $247,346.34 payable upon the acceptance of the agreement for filing by 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). . 3. A $1,000,000 exploration program to be staged as follows: a) $200,000 on or before Nov. 30, 1996. b) A cumulative minimum total of $500,000 on or before May 31, 1997. c) The balance of the required $1,000,000 on or before Nov. 30, 1997. This agreement is subject to regulatory approval. -0- CYPANGO VENTURES LTD. William D. Friesen, President -0- The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. CONTACT: Cypango Ventures Ltd., Vancouver William D. Friesen, 604/688-6306, 800/545-7214 or (fax) 604/688-9519 |
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