KWG and Spider Agree to Amend Joint Venture Parties Select Individual Projects for Advancement.MONTREAL -- KWG KWG Kreditwesengesetz (German: banking act) KWG Kids With Guns (band) KWG Kaiser Wilhelm Gymnasium KWG Kernkraftwerk Graben Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:KWG) and Spider Resources Inc. (TSX VENTURE:SPQ SPQ Schizotypal Personality Questionnaire SPQ Sweet Potato Queen (Sweet Potato Queen's Book of Love; Mal's St. Paddy's Day Parade; Jackson, MS) SPQ Syndicalistes et Progressistes pour un Québec libre (French) ) have agreed in principle to amend and revise their Joint Venture. The partners have generated six separate exploration projects since creation of their Joint Venture in 1992, from almost $37 million invested during that time. The companies now intend to treat each of the six projects as a separate joint venture to enable each company to either increase or decrease its interest in a project, based upon its own strategic objectives. Each party has agreed to have its interest diluted by not contributing further to the other party's exploration program until its interest has reached 33.3%. At that level, a party's interest in a project may be maintained by contribution to subsequent programs, or suffer further dilution.When an interest has been reduced to less than 10% it will be automatically converted to a one-half percent net smelter royalty in base metals and a one percent net smelter/products royalty in precious metals and diamonds.Both parties are now deemed to have a 50% interest in each of the joint venture projects and will be immediately vested with an equal capital interest based on accumulated expenditures in each project. KWG will continue with the exploration and development of the MacFadyen kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. property, located 8 kilometers north of the advanced Victor diamond mine development project of De Beers Canada Exploration Inc.The Joint Venture had identified five diamondiferous kimberlites there; each of these merits additional drilling and sampling. Programs will also be undertaken at four newly-acquired kimberlite target areas in the general vicinity of McFaulds Lake and Kyle Lake, that were identified by a combination of magnetic airborne surveying and data analysis commissioned from Diagnos Inc. (TSXV-ADK).The VMS (1) (Virtual Memory System) A multiuser, multitasking, virtual memory operating system for the VAX series from Digital. VMS applications run on any VAX from the MicroVAX to the largest unit. See OpenVMS. properties near McFaulds Lake optioned from Freewest Resources Inc. (TSXV-FWR) will have initial programs completed by February 28th, 2006.KWG will have the option to maintain up to a 50% interest, by contributing pro-rata to each of these two programs to be operated by Spider. Spider will continue with the exploration of the volcanogenic vol·ca·no·gen·ic adj. Of volcanic origin. massive sulfide belt near McFauld's Lake and the diamond discoveries at Wawa, and at the five Kyle kimberlites. Shares issued and outstanding: 125,107,408 THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. HAS NOT REVIEWED AND DOES NOT ACCEPT RESP RESP Response RESP Registered Education Savings Plan (Canada) Resp Responsibility Resp Respektive (Sweden: respectively) Resp Respiration RESP Respironics, Inc. ONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE. KWG Resources Inc. (TSX VENTURE:KWG) |
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