The Company announces that it has issued 275,000 units pursuant to an agreement dated February 28, 2002 between the Company and Hunter Exploration Group. Each unit consists of one share and one share purchase warrant. Each warrant entitles the holder to purchase an additional share of the Company at a price of $0.13 until May 30, 2004.
The units were issued in connection with 23 prospecting permits located in the Coronation District, Nunavut. The shares and the shares to be issued upon exercise of the warrants are subject to a hold period until the expiry of September 30, 2003.
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