Work under way on Troymin bets

Field work is under way at several of Troymin Resources’ properties, including its Babine Lake Silver prospect in B.C., its gold prospect at Tabor Lake near Dryden, Ont. and at a newly optioned gold bet near Yellowknife, N.W.T.

This Alberta-listed company expects to raise $540,000 through a public offering of 1.5 million units at 40 cents per unit. Each unit consists of one common share and one warrant entitling the holder to subscribe for one common share at 55 cents until Dec 31, 1987.

As stated in the prospectus for the offering, Troymin has entered into an exploration agreement with First Exploration Fund 1986 of Vancouver for the funding of $440,000 of exploration work on its properties and will issue flow-through shares at 48 cents each for these expenditures. This funding covers budgeted expenditures on most of the company’s properties to the end of February, 1987.