NEWS ROUNDUP — Golden Star lists on American Exchange

Junior gold miner Golden Star Resources (TSE) has begun trading on the American Stock Exchange.

The company, which recently moved to Denver, Colo., is mining and exploring for gold in the Guiana Shield of South America. Golden Star’s first major project, its 30%-owned Omai gold mine in Guyana, began producing in January. By listing on the exchange, the company hopes to attract more U.S. investors.

**START-IO-STORY** With an agreement completed between Athabaska Gold Resources (TSE) and Consolidated Ramrod Gold (TSE), further drilling should soon begin on the Damoti Lake property in the Northwest Territories.

Ramrod can earn a 40% interest by spending $1.7 million by Aug. 1, 1997; it can increase this to 51% by spending a further $1 million by Aug. 1, 1999. Ramrod is earning the entire interest from Athabaska which, in turn, owns 75% of the property. Gitennes Exploration (CND) can acquire the remaining 25% from Covello Bryan & Associates through a staged payment of 300,000 shares. The company has about 13.8 million shares outstanding.

If all parties become fully vested, Ramrod will hold 51%, Athabaska 24% and Gitennes 25%.

Ramrod is committed to spending at least $300,000 by Aug. 1, 1994, and will drill several holes to test the zone intersected by Hole D-2-93 earlier this year.

The hole returned a 31.2-ft. intersection grading 0.4 oz. gold per ton and included a 19.4-ft. section grading 0.6 oz. gold.

The intersection was made within a 3,300-ft.-long magnetic anomaly which the joint venture believes represents mineralization similar to that intersected in Hole D-2-93.

The initial phase of work on the project is budgeted at $400,000, of which Consolidated Ramrod will provide $300,000; Gitennes will put up $100,000.