GLOBAL SEARCH FOR GOLD — Drilling resumes at Sleeper property

Drilling by X-Cal Resources(XCL-T) will test the West Wood, Bedrock, Casino and Ready Line targets at the Sleeper gold property in Nevada’s Humboldt Cty.

Earlier this year, X-Cal signed an agreement to purchase the property from Amax Gold (axg-t). The junior recently extended its option to purchase Amax’s portion of the project by paying US$250,000 and issuing 500,000 shares.

X-Cal reports that several major companies are examining the project with a view to forming a possible joint venture. Placer Dome (pdg-t) had previously optioned the project but lost its right to participate when talks reached a stalemate.