LATIN AMERICA (June 15, 1992)

A recently signed agreement between Orvana Minerals (VSE) and Noranda (TSE) will result in the two companies exploring for porphyry copper-gold deposits in Chile under a 40-60 joint venture.

An initial expenditure of $300,000 will be funded 85% by Noranda and 15% by Orvana.

Merwin Bernstein and Associates of Santiago, Chile, is entitled to earn up to 30% of Orvana’s 40% interest by providing a pro-rata share from the initiation of the project.