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PLEXUS RESOURCES CORPORATION PURCHASES COMMON SHARES

 SALT LAKE CITY, Utah, Nov. 26 ~PRNewswire~ -- Plexus Resources Corporation announced today that, further to its news release of November 18, 1992, CMP Resources Ltd., Moss, Lawson & Co. Limited, as agents and Canaccord Capital Corporation, as agents, purchased 6,000,000 common shares of Plexus from certain purchasers who acquired the shares from Total Energold Corporation. As a result, CMP now holds approximately 25.45 percent of the outstanding shares of Plexus and is the single largest shareholder of Plexus.
 Also on November 26, 1992, in connection with the sale of the 6,000,000 shares, James H. Coleman, Philip de Boos-Smith, Frederick W. Davidson and H. Walter Sellmer resigned as directors of Plexus and Ned Goodman, Robert M. Buchan, John F. Kearney, James B, Smith and H. Jay Sujir joined Arthur H. Ditto, the President and Chief Executive Officer of Plexus and David B. Rovig on the board of directors of Plexus.
 "The prolonged uncertainty of what would happen to these shares and the associated negative effect on share trading, corporate finance activities, and business development is now over," commented Arthur H. Ditto, President and CEO of Plexus. "Completing this transaction is a very important and beneficial development for Plexus and its shareholders."
 Plexus Resources Corporation is a North American minerals development company. Its common shares trade on The Toronto Stock Exchange (PXS) and the NASDAQ system (PLUSF).
 -0- 11~26~92
 ~For further information CONTACT: Mike Washington, 801-363-9152~
 (PLUSF)


CO: Plexus Resources Corporation; CMP Resources Ltd. ST: Utah IN: MNG SU: TNM PER

JG -- NYON1 -- 1736 11~26~92 18:49 EST
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Publication:PR Newswire
Date:Nov 26, 1992
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