International R.S.V. Resource Corp.: Comstock to retain Poole Construction (PCL) - mining division as operator.PHOENIX, Ariz.--(BUSINESS WIRE)--Nov. 9, 1994--International R.S.V. Resource Corp. (the "Company"), announced Wednesday that it is in the final stages of negotiating a joint venture with Nu Gold Technology Inc. of Calgary, Alberta ("Nu Gold") to place its Spring Valley and portions of its Gold Canyon Placer Claims in Lyon County, Nevada Lyon County is a county located in the U.S. state of Nevada. As of the 2000 census, the population was 34,501. Its county seat is Yerington6. History Lyon County was one of the nine original counties created in 1861. into production. The company acquired a 100% 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 the property pursuant to an agreement dated June 6, 1994 (the "Harlesk Agreement"), with Harlesk Nevada, Inc. ("Harlesk"). Under the terms of the proposed joint venture agreement, Comstock Technology Inc., ("Comstock"), a subsidiary of Nu Gold, will place the property into production at an initial rate of 3,600 tons of ore per day with the eventual objective of increasing production to 25,000 tons per day. The company will receive 40% of net profits from the joint venture. Comstock intends to retain Poole Construction - Mining Division ("PCL (Printer Command Language) The page description language for HP LaserJet printers. It has become a de facto standard used in many printers and typesetters. PCL Level 5, introduced with the LaserJet III in 1990, also supports Compugraphic's Intellifont scalable fonts. "), of Edmonton, Alberta as operator of the joint venture at the cost of PCL. Comstock also intends to employ an enhanced recovery technology known as the DCRS DCRS Digital Communication Recording System DCRS Damage Control Repair Station DCRS Delivery Confirmation Receipt System DCRS Digital Camera Receiving Station DCRS Digital Cassette Recording System Technology. A royalty of 5% of net smelter returns will be payable to DCRS (U.S.) Limited should the use of DCRS prove to be economical. The company is also negotiating changes to the Harlesk Agreement to accommodate the joint venture agreement. It is proposed that Harlesk will be the project manager. The above transactions are subject to regulatory approval. INTERNATIONAL R.S.V. RESOURCES CORPORATION Patrick Ryan, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. -0- 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 neither approved nor disapproved the contents of this news release. CONTACT: International R.S.V. Resources Corp. Patrick Ryan, 602/957-3219 |
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