Pan Am date extended

Before the merger with Pan American Silver (PAA-T) can close, Corner Bay Silver (BAY-T) has to secure a water source for a proposed heap-leach operation at the Alamo Dorado project in Sonora state, Mexico.

The closing date of the merger is now Feb. 28, 2003. Corner Bay has signed a letter of intent to draw the required amount of water from the Hidalgo reservoir, 12 km away. A local committee governing the water district is scheduled to meet before year-end to vote on the matter.