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VENEZUELAN GOLDFIELDS LTD. ACQUISITION OF 20 PER CENT INTEREST IN LIHIR ISLAND

 VANCOUVER, British Columbia, Aug. 12 /PRNewswire/ -- Venezuelan Goldfields Ltd. today said it was surprised to learn that the Government of Papua New Guinea has announced that it is interested in increasing its interest in this project from 30 per cent to 50 per cent.
 On Aug. 9, 1993 Venezuelan Goldfields Ltd. announced that it had reached an agreement to purchase 20 per cent of this project from RTZ Corporation.
 The company and RTZ are in discussions to resolve this matter.
 The common shares of Venezuelan Goldfields Ltd. trade on the Vancouver Stock Exchange under the symbol VZG.
 The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 -0- 8/12/93
 /CONTACT: Ian Telfer, president, of Venezuelan Goldfields Ltd., 416-956-4852/


CO: Venezuelan Goldfields Ltd. ST: British Columbia IN: MNG SU:

MP -- NY012 -- 2025 08/12/93 09:36 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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