Correction Noranda Exploration

Contrary to an article in the Nov 3 issue of The Northern Miner concerning Total Erickson Resources and the Dome Mountain precious metals property in B.C., Noranda Exploration did not set up a numbered company for whatever reason, as implied in the article. In fact during September, 1986, Noranda received an offer from Malcolm Slack of Toronto in conjunction with a private numbered company for Noranda’s back-in rights on the Dome Mountain property.

The original property vendors, Reako Exploration and Panther Mines, then subsequently exercised a right of first refusal in conjunction with Total Erickson. Noranda will receive for its back-in rights $300,000 in cash immediately and $2.8 million in exploration funding for new exploration projects in Canada during 1987 and 1988 subject to a 5% net profits royalty to the Total Erickson group.