NEWS ROUNDUP — Thunderwood, First Cdn. in Ungava

Alberta-listed Tusk Resources has optioned its nickel-platinum prospect, in the Ungava region of northern Quebec, to Thunderwood Resources (TSE) and First Canadian Gold (CDN).

Tusk will receive a cash payment from First Canadian and an equivalent value in Thunderwood shares. Both partners will hold a 50% interest. To earn a 100% interest, the optionees must spend $250,000 on the property by June 30, 1995. Tusk retains a 4.2% net profits interest in the project.