Mimiska acquisition

Assets of Fern Elizabeth Gold Exploration, including 40% of the Fern Elizabeth and Hill Lake properties in the Atikokan area of northwestern Ontario, have been acquired by Mimiska Exploration. The Fern Elizabeth assets were exchanged for 700,000 shares of Mimiska.

A drill hole last year on the Fern Elizabeth property intersected 0.36 oz gold per ton over 30 ft, Mimiska says. Underground exploration is planned for 1988.