Post by Franko10 ™ on Sept 20, 2004 15:28:36 GMT -5
Great Western Gold Corp.
P.O. Box 69
Saskatoon, SK S7K 3K1
TSX VENTURE: GWG
CUSIP: 39144H107
June 26, 2002
COMPANY ACQUIRES U.S. COPPER/GOLD PROPERTY
Neil P. Yingling, President/CEO, Director, is pleased to announce that further to the news release of June 14, 2002, the Company has signed a Memorandum of Understanding to acquire a 100% interest in a mineral property near the California/Arizona border known to host high-grade gold and copper mineralization.
Previous exploration work on the property was carried out by a major U.S. mining company before the project was terminated due to a corporate takeover of the company. Extensive chip sampling over a broad area produced a high percentage of samples returning average gold values above 0.19 ounces per ton and copper values ranging from 1% to 5%. The major company outlined a target area with the potential to host 20 million tons of mineralization grading over 3% copper with high gold values.
Under the terms of the agreement, the Company must make an initial payment to the vendor of US$15,000 and issue or grant an option for 30,000 common shares of the Company. Subsequent annual property payments of US$10,000 must be made and annual exploration expenditures of US$50,000 must be incurred to keep the agreement in effect.
This acquisition is part of a corporate strategy to expand and diversify the Company's portfolio of quality strategic and high-value mineral projects in order to take advantage of upturns in the market for specific commodities while lessening the effect of downturns. New acquisitions may be optioned to other companies to spread the exploration risk while retaining the upside potential.
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Great Western Gold Corp. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds and rare earth elements in the Province of Saskatchewan.
For further information, call Neil Yingling at 1 702 896 6724, Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN GOLD CORP.
Neil Yingling
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.
P.O. Box 69
Saskatoon, SK S7K 3K1
TSX VENTURE: GWG
CUSIP: 39144H107
June 26, 2002
COMPANY ACQUIRES U.S. COPPER/GOLD PROPERTY
Neil P. Yingling, President/CEO, Director, is pleased to announce that further to the news release of June 14, 2002, the Company has signed a Memorandum of Understanding to acquire a 100% interest in a mineral property near the California/Arizona border known to host high-grade gold and copper mineralization.
Previous exploration work on the property was carried out by a major U.S. mining company before the project was terminated due to a corporate takeover of the company. Extensive chip sampling over a broad area produced a high percentage of samples returning average gold values above 0.19 ounces per ton and copper values ranging from 1% to 5%. The major company outlined a target area with the potential to host 20 million tons of mineralization grading over 3% copper with high gold values.
Under the terms of the agreement, the Company must make an initial payment to the vendor of US$15,000 and issue or grant an option for 30,000 common shares of the Company. Subsequent annual property payments of US$10,000 must be made and annual exploration expenditures of US$50,000 must be incurred to keep the agreement in effect.
This acquisition is part of a corporate strategy to expand and diversify the Company's portfolio of quality strategic and high-value mineral projects in order to take advantage of upturns in the market for specific commodities while lessening the effect of downturns. New acquisitions may be optioned to other companies to spread the exploration risk while retaining the upside potential.
--------------------------------------------------------------------------------
Great Western Gold Corp. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds and rare earth elements in the Province of Saskatchewan.
For further information, call Neil Yingling at 1 702 896 6724, Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN GOLD CORP.
Neil Yingling
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.