R.D.G. Minerals Inc. - Acquisition Approved.TORONTO--(BUSINESS WIRE)--Feb. 13, 1997--(CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :RDGI.) James Carl Yeatman, President of RDG RDG Ridge RDG Royal Dragoon Guards (a British Regiment) RDG Regional Director General (Government of Canada) RDG Restricted Delaunay Graph RDG Reading, PA, USA - Municipal / Spaatz Field Minerals Inc. (RDGI) announced that the Board of Directors has approved the acquisition of a one-quarter interest in 29 mining claims covering 1820 acres in the Henry Mountains The Henry Mountains are located in the southeastern portion of the U.S. state of Utah and run in a generally north-south direction, extending over a distance of about 30 miles (50km). Mining District, Garfield County, Utah Garfield County is a county located in the U.S. state of Utah. As of 2000 the population was 4,735, and by 2005 had been estimated to decrease to 4,470. It was named for James A. Garfield, President of the United States in 1892. , United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The interest was acquired through a combination of stock in RDG Minerals Inc. and cash. The letter of intent is subject to a final 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. report by RDG Minerals Inc. The acquisition was made from Gold Horizon Mining Company, a Nevada mining corporation. The primary development at this time is a gold mine named "Seven Cities of Caliphal." The initial assay reports are in the one quarter to one ounce per ton of recoverable gold. The gold vein dimensions are 50 feet wide, 2000 feet long and 2000 feet deep. Initial estimates by RDG Minerals Inc. point to over 4 million ounces of recoverable gold. Yeatman stated, "RDG Minerals, through its operating committee, has been working the last 90 days on analyzing the reserve potential of these claims and the history of the Seven Cities site. We feel this is a major discovery and we will assist in directly operating the mine site. The Seven Cities mine district throughout history has tremendous production potential. Our partners in the mine have spent the last 27 years in pinpointing this site and we are fortunate to be in the right place at the right time for our shareholders." RDG Minerals Inc. expects final contracts to be signed in the next ten days with a targeted date for gold production being June of 1997. CONTACT: R.D.G. Minerals Inc. Alex Kennedy, 905/602-6365 905/602-6370 (FAX) or R.D.G. Minerals Inc. Carl Yeatman, 713/466-7122 713/446-7711 (FAX) |
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