New Paymaster reserve awaited

An updated reserve report is being prepared by Placer Dome (TSE) and American Reserve Mining (ME) following the completion of the current phase of deep drilling at the Paymaster gold project at Timmins, Ont.

Earlier in the work program, the companies reported defining the eastern extension of the project, adjacent to the old Paymaster mine, which is on standby and maintenance

status.

Placer has a 64% interest in the project and American the remaining 36%.


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