Reclamation Management -- Acquisition of 60 Claims.VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 30, 1996-- Reclamation Reclamation A claim for the right to return or the right to demand the return of a security that has been previously accepted as a result of bad delivery or other irregularities in the delivery and settlement process. Management (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. : RMLL RMLL Rencontres Mondiales du Logiciel Libre .) The company is pleased to announce that it is concluding negotiations to acquire a group of 60 claims directly adjacent to Booker Gold's recently discovered Hearne Hill Gold/Copper deposit. Terms of this first acquisition are $54,000.00 and an issuance of 100,000 shares of on regulatory approval to acquire a 90 percent interest in the property. In addition the Company is pleased to announce that it is currently negotiating to acquire three contiguous blocks totaling 55 claims west of Old Fort in the Babine Lake Babine Lake is the longest natural lake in British Columbia, Canada. Babine Lake is located northeast of the town of Burns Lake in central British Columbia, some 177 km (110 mi) west northwest of the city of Prince George. area. Terms of this acquisition are $45,000.00 on signing and 100,000 shares on regulatory approval to earn a 90 percent interest. The final stages of a third agreement has been reached to earn a 90 percent interest in a group of 20 claims adjacent to the Bell Mine approximately 25 km south of Hearne Hill. This is also a Copper/Gold area where the Company can earn a 90 percent interest in the claims by paying a cash consideration of $32,000.00 and issuing 100,000 shares in the Company. RMLL intends to spend a total of $250,000.00 on the properties in exploration expenditures in the first year. The stakers retain a 2.5 percent NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there on each of the claim groups and has agreed to sell 1.5 percent to RMLL for $1,000,000.00 each. All of these agreements are subject to a 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. by the Company and regulatory approvals. Furthermore the Company advises that Eugene Beukman has tendered his resignation due to various other commitments. CONTACT: Reclamation Management Limited Joan Purdy, 604/687-0300 604/687-0151 (FAX) |
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