Owner
Post by Franko10 ™ on Sept 11, 2004 12:50:25 GMT -5
JNR/Kennecott To Drill Kimberlite Targets
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NR 02-02
Mr. Rick Kusmirski reports that JNR Resources Inc. ("JNR") and Kennecott Canada Exploration Inc. ("Kennecott") (the "Companies") have entered into an agreement to drill kimberlite targets on select properties in the province of Saskatchewan. JNR is currently the beneficial owner of an undivided 50 % interest in these properties.
An exploration program consisting of ground geophysics and diamond drilling will be carried out this winter and will be funded entirely by Kennecott, who will also act as project operator. Plans at this time call for the drill testing of at least three of the known kimberlite targets. Upon completion of this program, Kennecott has the option to acquire a further 30 % interest in the properties from JNR, by funding all further work to a production decision.
The Companies have also entered into a Diamond Marketing Agreement, whereby Kennecott will act as Agent for the sale of JNR's share of Diamonds.
JNR's management is pleased with these developments and with the opportunities that it affords its shareholders. JNR will now be exposed to drilling programs for three commodities this winter. Diamonds as discussed herein; gold on its 50 % owned Greywacke gold project and uranium on its 50 % owned Moore Lake project. Results will be reported as they become available.
ON BEHALF OF THE BOARD
"R. T. Kusmirski"
Rick Kusmirski, President & Director
For further information, please call:
(306) 249-3562
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
--------------------------------------------------------------------------------
NR 02-02
Mr. Rick Kusmirski reports that JNR Resources Inc. ("JNR") and Kennecott Canada Exploration Inc. ("Kennecott") (the "Companies") have entered into an agreement to drill kimberlite targets on select properties in the province of Saskatchewan. JNR is currently the beneficial owner of an undivided 50 % interest in these properties.
An exploration program consisting of ground geophysics and diamond drilling will be carried out this winter and will be funded entirely by Kennecott, who will also act as project operator. Plans at this time call for the drill testing of at least three of the known kimberlite targets. Upon completion of this program, Kennecott has the option to acquire a further 30 % interest in the properties from JNR, by funding all further work to a production decision.
The Companies have also entered into a Diamond Marketing Agreement, whereby Kennecott will act as Agent for the sale of JNR's share of Diamonds.
JNR's management is pleased with these developments and with the opportunities that it affords its shareholders. JNR will now be exposed to drilling programs for three commodities this winter. Diamonds as discussed herein; gold on its 50 % owned Greywacke gold project and uranium on its 50 % owned Moore Lake project. Results will be reported as they become available.
ON BEHALF OF THE BOARD
"R. T. Kusmirski"
Rick Kusmirski, President & Director
For further information, please call:
(306) 249-3562
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
