NEWS ROUNDUP — Republic announces Cuban deal

Toronto-based junior Republic Goldfields (VSE) in association with IMI Mineral Development, a geological consulting firm, has signed a letter of intent with the Cuban government to explore and develop a large epithermal gold deposit in central Cuba.

The Gaspar project covers a 98-sq.-km concession which Republic believes may host an epithermal gold deposit similar to the Pueblo Viejo deposit in the Dominican Republic. Republic will operate the 50-50 joint venture. The agreement will resemble the one concluded between Joutel Resources (TSE) and the Cuban government in July, 1992. The Joutel agreement is expected to be signed this month.

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