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YUBA WESTGOLD SAYS PRINCIPAL SHAREHOLDER INTENDS TO OFFER ITS INTEREST IN THE COMPANY FOR SALE

 YUBA WESTGOLD SAYS PRINCIPAL SHAREHOLDER INTENDS
 TO OFFER ITS INTEREST IN THE COMPANY FOR SALE
 MARYSVILLE, Calif., Dec. 18 /PRNewswire/ -- Yuba WestGold, Inc. (PSE: YWG) announced today that its principal shareholder, Western Gold Exploration and Mining Company, Limited Partnership (WestGold) has advised Yuba's management that WestGold intends to offer its controlling interest in Yuba for sale to prospective buyers.
 WestGold emphasized that any decision to sell its controlling interest in Yuba would be made only upon review of the terms and conditions of any offers received. Further, Yuba's management stated that substantial time may be required before an announcement is made regarding the disposition of WestGold's investment.
 WestGold previously announced that it was considering alternatives to continuing its investment in Yuba in light of WestGold's decision to liquidate assets. In addition, Inspiration Resources Corporation, the parent company of WestGold's general partner, has divested or discontinued several of its principal mining operations and announced its intention to focus on its agribusiness operations.
 WestGold currently holds 910,000 shares of Yuba's Class A common stock and 10,000 shares of Yuba's Series E preferred stock. The Series E preferred stock is convertible at any time into 43,945,082 shares of Class A common stock, which would give WestGold a total of 69.9 percent of Yuba's outstanding Class A common stock.
 Yuba WestGold is engaged in the dredging of gold and other precious metals located along the Yuba River in Yuba County, Calif.
 -0- 12/18/91
 /CONTACT: William E. Brooks, 916-742-7164, or Ellen E. Duerksen, 712-277-5438, both of Yuba WestGold/
 (YWG) CO: Yuba WestGold, Inc. ST: California IN: MNG SU: TNM


SM-JT -- NY038 -- 3425 12/18/91 12:37 EST
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Publication:PR Newswire
Date:Dec 18, 1991
Words:280
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