APRIL 16, 1998

[Franko10 ™]

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: ANGLO MINERALS LTD.
ASE SYMBOL: ALM
APRIL 16, 1998
Anglo Minerals Reports Arms Length Option for Purchase of
the Firebag Coal Project
CALGARY, ALBERTA--
NOTE: A news release transmitted earlier today, April 15, 1998,
for Anglo Minerals Ltd. was released in error without the
authorization of the Company management. Canadian Corporate News
apologizes for any inconvenience to the management of Anglo
Minerals Ltd. and/or its shareholders.
The following corrected release has been approved for release by
the management of the Company.
Mr. Todd D. Montgomery, C.E.O. is pleased to announce the arms
length option to purchase of the Firebag coal property in North
Eastern Alberta. This project is in proximity to many of the
major oil sands expansions in the Fort McMurray area.
Anglo is in the process of completing a pre-feasibility report in
conjunction with a market study and environmental study.
The preliminary reserves according to the engineering calculations
in the pre-feasibility study indicates a reserve of 328 million
metric tons of lignite class A, 9500 Btu coal. These reserve
figures will be verified by the company in the completion of the
pre-feasibility report.
A number of major utility companies have indicated an interest in
the Firebag project and negotiations will commence in order to
move forward the Firebag project to its' fullest potential.
This acquisition is subject to shareholder and regulatory
approval.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Anglo Minerals Ltd.
Todd D. Montgomery
C.E.O.
[phone]
[phone] (FAX)
[phone]
[phone] (FAX)
The Alberta Stock Exchange has neither approved nor disapproved of
the contents of this news release.