News in Brief (September 26, 1988)

An agreement for flow-through share financing has been reached between NIM Resources and International Prism Exploration (VSE), whereby NIM will purchase 980,000 shares of International Prism at 65 cents per share, for total proceeds of $637,000. These funds will be used for further exploration on the company’s Kathleen Lakes silver project. .N7

Androne Resources has merged into Pezgold Resource Corp. (PEZ:VSE) on a share-for-share basis.

Gemcom Services Inc. is hosting a 1-day workshop entitled “Beyond Optimization of Open Pits,” in Vancouver on Oct 31. For further information contact Craig Hasbon at (604) 684-6550 or Fax (640) 687-5532.

Pan American Gold, Inc. announced recently the acquisition of 100% of the capital stock of Ranger Resources, a Nevada corporation, in exchange for five million shares of Pam American stock. Ranger will become a wholly-owned subsidiary of Pam American. Ranger owns an exploration agreement dated July 1, 1988 with Santa Fe Pacific Mining, a Kansas corporation, covering approximately 265,000 acres of mineral properties in Pershing and Humboldt Counties in Nevada. Northern Nevada is the site of the most intense gold mining activity in all of North America, the company said.

Further stripping has been completed on the Homestead Resources’ (VSE) Legacy property in Manitoba. The Heritage Zone within the property was exposed 165 ft east of drill hole L-88-07 and 2,000 ft west of this drill hole. L-88-07 was drilled earlier this year and contained a true width of 66 ft of anomalous gold values within a sheared, pyritic quartz-feldspar porphyry complex. Values up to 0.023 oz per ton were obtained from grab samples in the western most stripping.