High River acquires 20% of Nor-Acme Mns.

A. L. Parres, president of Nor- Acme Gold Mines (TSE), has agreed to sell his shareholdings in the company to High River Resources (VSE) of Vancouver, the company said recently.

Parres currently holds about 20% of Nor-Acme’s outstanding shares. High River is Nor-Acme’s joint venture partner in the development of the Snow Lake property east of Flin Flon, Man. High River recently earned a 60% interest in the property by spending over $2 million.

Drill-indicated reserves at Snow Lake stand at 1.5 million tons of grade 0.151 oz gold per ton above 1,780 ft. An additional drill indicated and geological reserve inventory of 4.35 million tons grading 0.152 oz is located below 1,780 ft.