Post by Franko10 ™ on Jan 10, 2005 21:28:28 GMT -5
NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG
FOR: ANGLO MINERALS LTD.
CDNX SYMBOL: ALM
May 3, 2001
Anglo Minerals Announces Completion of Winter Drill Program
CALGARY, ALBERTA--Anglo Minerals Ltd. (CDNX - ALM) is pleased to announce its
partner Synenco Energy Inc. has successfully completed the Winter 2001 Oilsands
and Coal Drill Program.
Anglo Minerals holds a 5% carried interest in the Northern Lights Oilsands
Project, 23,040 acres of Oilsands Permits and a 49% Interest in 138,240 acres of
Coal Permits.
The Winter 2001 Drill Program saw the completion of 65 core holes, which in
conjunction with the 17 core holes completed in the summer drill program puts
the total core holes to date at 82. The vast majority of these core holes
encountered promising Oilsands and Coal. The estimated recoverable reserve
could be as high as 1 Billion Barrels of Bitumen.
Synenco Energy Inc., Anglo Minerals partner, has obtained Norwest Mine Services
to qualify the engineering and geology of the properties and the services of
Sproule International have been obtained to qualify the Bitumen reserve
potential.
Anglo Minerals signed an agreement last year with Synenco Energy in which
Synenco Energy gained the exclusive right for four years to buy out Anglo
Minerals interest in both the Oilsands and Coal permits for $25 Million Cdn.
Synenco Energy recently made an offer to Anglo Minerals Ltd. to purchase the 5%
carried Oilsands interest and the 49% Coal interest. At this time Anglo
Minerals Ltd. is assessing the offer and will continue to negotiate for terms
best suitable to the Shareholders of Anglo Minerals Ltd.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Anglo Minerals Ltd.
Todd Montgomery
President and CEO
(403) 262-2727
(403) 284-4431 (FAX)
FOR: ANGLO MINERALS LTD.
CDNX SYMBOL: ALM
May 3, 2001
Anglo Minerals Announces Completion of Winter Drill Program
CALGARY, ALBERTA--Anglo Minerals Ltd. (CDNX - ALM) is pleased to announce its
partner Synenco Energy Inc. has successfully completed the Winter 2001 Oilsands
and Coal Drill Program.
Anglo Minerals holds a 5% carried interest in the Northern Lights Oilsands
Project, 23,040 acres of Oilsands Permits and a 49% Interest in 138,240 acres of
Coal Permits.
The Winter 2001 Drill Program saw the completion of 65 core holes, which in
conjunction with the 17 core holes completed in the summer drill program puts
the total core holes to date at 82. The vast majority of these core holes
encountered promising Oilsands and Coal. The estimated recoverable reserve
could be as high as 1 Billion Barrels of Bitumen.
Synenco Energy Inc., Anglo Minerals partner, has obtained Norwest Mine Services
to qualify the engineering and geology of the properties and the services of
Sproule International have been obtained to qualify the Bitumen reserve
potential.
Anglo Minerals signed an agreement last year with Synenco Energy in which
Synenco Energy gained the exclusive right for four years to buy out Anglo
Minerals interest in both the Oilsands and Coal permits for $25 Million Cdn.
Synenco Energy recently made an offer to Anglo Minerals Ltd. to purchase the 5%
carried Oilsands interest and the 49% Coal interest. At this time Anglo
Minerals Ltd. is assessing the offer and will continue to negotiate for terms
best suitable to the Shareholders of Anglo Minerals Ltd.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Anglo Minerals Ltd.
Todd Montgomery
President and CEO
(403) 262-2727
(403) 284-4431 (FAX)