| On May 26, 2003 the Company announced that it had entered into an agreement to acquire 100% of the share capital of Minera Calipuy S.A.C. (“Calipuy”), a private company constituted under Peruvian law by issuing a total of 2,400,000 million common shares in the Company. The Company is pleased to announce that it has closed the acquisition and the shares issued are subject to a hold period of four months and cannot be traded in Canada until June 10, 2004.
Calipuy has an interest in the Pico Machay project which is a large high-sulphidation epithermal system where gold mineralisation is hosted in Tertiary volcanic rocks. The project area is situated in the Andean Cordillera of Peru and comprises a 3,800 hectare land package centered over a 2.5 km x 1 km area of advanced argillic alteration with elevated gold values. The company will announce details of the planned exploration program in due course. A copy of the independent technical report on the project prepared by Jeff Reeder is available on SEDAR.
For any questions or comments please contact
us directly.
|
