Hyder finances program

Junior Hyder Gold (HGI-V) has raised $200,000 to explore five claim blocks near the high-grade Pogo deposit in the Goodpaster district of east-central Alaska.

The private placement consists of 1 million units priced at 20 cents each. A unit consists of one share and one non-transferable warrant entitling the owner to buy an additional share at 20 cents during the first year, or at 25 cents in the second.

Hyder can earn an initial 51% interest in the property from Rimfire Minerals by spending $1.3 million on exploration and making total payments of $230,000 in cash and 200,000 shares by Dec. 31, 2001. The interest can be increased to 70% in return for an additional payment of $1 million.