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ECHO BAY FILES FOR SALE OF COMMON SHARES

 EDMONTON, Alberta, June 3 /PRNewswire/ -- Echo Bay Mines Ltd. (Toronto; AMEX: ECO) announced today that it is filing a preliminary prospectus with all appropriate Canadian securities commissions and has filed a registration statement with the U.S. Securities and Exchange Commission for sale to the public of 6 million common shares.
 The proceeds would be added to available funds and used for general corporate purposes, including capital expenditures such as the development or expansion of the company's existing properties, working capital or future acquisitions in the precious metals mining industry.
 Of the 6 million shares, 4 million will be offered in the United States and elsewhere outside Canada by Goldman, Sachs & Co. and The First Boston Corp., and 2 million shares will be offered in Canada and elsewhere outside the United States by Burns Fry Ltd. and Wood Gundy Inc.
 Echo Bay is one of the largest gold producers in North America. The company's common shares are traded under the symbol ECO, principally on the Toronto and American stock exchanges and on other major exchanges in North America and Europe.
 -0- 6/3/93
 /CONTACT: Paddy Broughton, 303-592-8048; or Ted Sheldon, 303-592-8049, both for Echo Bay Mines/
 (ECO)


CO: Echo Bay Mines Ltd. ST: Colorado IN: MNG SU:

MC -- DV005 -- 5212 06/03/93 17:29 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
Words:217
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