Post by Zoinkers on May 23, 2006 4:15:46 GMT -5
Press Release Source: Shore Gold Inc.
Court of Appeal dismisses De Beers appeal
Thursday May 18, 5:19 pm ET
SASKATOON, May 18 /CNW/ - Kenneth E. MacNeill, President and CEO of Shore Gold Inc. ("Shore") announced that the Court of Appeal for Saskatchewan has reached a decision in favor of Shore, Kensington Resources Ltd., Cameco Corporation and UEM Inc., in the previously-announced appeal commenced by De Beers Canada Inc. ("De Beers"). De Beers had sought a declaration that the Voting Agreement relating to the Fort a la Corne Joint Venture ("FALC JV") was void as well as an injunction to restrain the defendants from holding a Management Committee meeting of the FALC JV at which a vote is to be taken, or to restrain the defendants from using the Voting Agreement in connection with a Management Committee vote. The Court of Queen's Bench for Saskatchewan had originally dismissed all claims made by De Beers, with costs to the defendants, in a written decision released on March 30, 2006.
Mr. MacNeill stated; "This decision confirms Shore's previous belief that the Voting Agreement is a valid and binding agreement and we now look forward to putting this matter behind us and moving the FALC JV Project forward. This was an unfortunate incident but we remain committed to working with our new joint venture partners to maximize the potential of the FALC JV Project and the Fort a la Corne region as a whole."
Shore is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the TSX Exchange under the trading system "SGF".
For further information
Kenneth E. MacNeill, President and CEO or Harvey J. Bay, COO & CFO at (306) 664-2202
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Source: Shore Gold Inc.
Court of Appeal dismisses De Beers appeal
Thursday May 18, 5:19 pm ET
SASKATOON, May 18 /CNW/ - Kenneth E. MacNeill, President and CEO of Shore Gold Inc. ("Shore") announced that the Court of Appeal for Saskatchewan has reached a decision in favor of Shore, Kensington Resources Ltd., Cameco Corporation and UEM Inc., in the previously-announced appeal commenced by De Beers Canada Inc. ("De Beers"). De Beers had sought a declaration that the Voting Agreement relating to the Fort a la Corne Joint Venture ("FALC JV") was void as well as an injunction to restrain the defendants from holding a Management Committee meeting of the FALC JV at which a vote is to be taken, or to restrain the defendants from using the Voting Agreement in connection with a Management Committee vote. The Court of Queen's Bench for Saskatchewan had originally dismissed all claims made by De Beers, with costs to the defendants, in a written decision released on March 30, 2006.
Mr. MacNeill stated; "This decision confirms Shore's previous belief that the Voting Agreement is a valid and binding agreement and we now look forward to putting this matter behind us and moving the FALC JV Project forward. This was an unfortunate incident but we remain committed to working with our new joint venture partners to maximize the potential of the FALC JV Project and the Fort a la Corne region as a whole."
Shore is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the TSX Exchange under the trading system "SGF".
For further information
Kenneth E. MacNeill, President and CEO or Harvey J. Bay, COO & CFO at (306) 664-2202
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Source: Shore Gold Inc.