St. Genevieve buys shares in Vauquelin

The shares will be issued at 20 cents per share. The warrants will be exercisable during an 18-month period at 50 cents per share. The placement, subject to approval, will give St. Genevieve about a 20% interest in Vauquelin, and an additional 13% interest should all the warrants be exercised.

Meanwhile, Vauquelin has reached agreement-in-principle with La Societe en Commandite Vauquelin I, whereby the partnership will invest $500,000 in the company in return for 1.25 million flow- through shares at 40 cents per share.

Vauquelin plans to spend a minimum $225,000 on exploration work on 53 mining claims belonging to Bale Bateman in Vauquelin Twp., 30 miles east of Val d’Or, Que. The expenditure will allow Vauquelin to double its interest in Bale to 60%.

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