MINING MARKETS & INVESTMENT NEWS — Aquest extends option for Anabella

Aquest Minerals (AQU-V) has extended into the next century its option for the Anabella gold project in Guatemala.

Under the terms of the extension, which will expire in April 2002, the company will pay the vendor, a private Guatemalan mining company, US$100,000 in the fourth quarter of 1999 and US$10,000 per month starting in February 2000.

Earlier this year, Aquest completed 3,000 metres of reverse-circulation drilling, identifying intervals of Carlin-style disseminated gold mineralization. That program also revealed additional zones of alteration in a 5-km trend. The company has recommended a second-phase program in order to define resource potential and locate additional targets.