Donner Minerals Ltd. - South Voisey Bay Merger Completed.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 24, 2001 Further to the news release dated March 12, 2001, Mr. Harvey Keats, President of Donner Minerals Ltd. is pleased to announce that formal documentation for the creation of the SVB (Switched Video Broadcast) See switched video. Nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. Company Ltd. ("SVBN") has been completed. Parties to the agreement consist of Donner Minerals Ltd., Cypress Cypress, city, United States Cypress (sī`prəs), city (1990 pop. 42,655), Orange co., S Calif. near Long Beach; inc. 1956. Forest Lawn–Cypress, a branch of the famous cemetery in Glendale, Calif. Development Corp., NDT NDT Newfoundland Daylight Time Ventures Ltd., Rcom Venture Corp., and Curion Ventures Corp. (collectively the "Participants"). Additionally, Donner has recently staked 190 claims in the South Voisey Bay Project area on behalf of SVBN. Subject to completion of formal documentation, Donner has also entered into agreements to acquire various small interests in the South Voisey Bay Project area and will issue 70,000 shares of its capital stock in consideration for the acquisitions. These acquisitions will have the effect of increasing the Company's interest in SVBN by an additional 1.10%.
The interests in SVBN are as follows:
Donner Minerals Ltd. 76.69%
Cypress Development Corp. 11.36%
NDT Ventures Ltd. 6.55%
Rcom Venture Corp. 4.20%
Curion Ventures Corp. 1.20%
Management feels that attracting a major third party participant would be beneficial to the exploration of the South Voisey Bay Project. Management's preliminary efforts have resulted in the Company entering into confidentiality agreements with two major mining companies. Both companies are currently carrying out due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and discussions are ongoing. Management is also pleased that negotiations between Inco and the Newfoundland Government have resumed. Management is hopeful that an agreement will be reached at this juncture junc·ture n. The point, line, or surface of union of two parts. and that it will have a positive impact on exploration in Labrador, on the South Voisey Bay Project and on the Company. The South Voisey Bay Project, located 90 kilometres south of Inco's Voisey's Bay deposits, has been the focus of six years of fieldwork field·work n. 1. A temporary military fortification erected in the field. 2. Work done or firsthand observations made in the field as opposed to that done or observed in a controlled environment. 3. by the Company and its partners. In addition to the Company's interest in SVBN, the Company has separate joint ventures with Northern Abitibi Mining Corp. and Major General Resources Ltd. in the South Voisey Bay Project area. The above transactions are subject to the approval of the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) . ON BEHALF OF THE BOARD OF DONNER MINERALS LTD. "Harvey Keats" President THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE |
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