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International Panorama Acquires Mya
- Subject: International Panorama Acquires Mya
- From: FreeBurma@xxxxxxx
- Date: Wed, 30 Aug 1995 10:54:00
Subject: International Panorama Acquires Myanmar Gold Property
Attn: Burma Newsreaders
Re: International Panorama Acquires Myanmar Gold Property
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VANCOUVER, BC--(BUSINESS WIRE)--Aug. 25, 1995--INTERNATIONAL PANORAMA
(VSE: ILP NASD BULLETIN BOARD: IPNRF) International Panorama Gold Corp.
announces that it has signed an agreement with the Myanmar Ministry of Mines
for the exploration and development rights to Block No. 9, a 1,400 sq. Km
gold exploration property in the Pyinmana region of Upper Myanmar (formerly
Burma).
Block 9 is situated on the Shan Scarp Fault structure, considered to be
the most important structure related to gold mineralization in Myanmar. The
property contains gold that is being mined on a limited scale by Mining
Enterprise no. 2, a division of the Myanmar Ministry of Mines. The accord
provides International Panorama with an operational base for additional
acquisitions in this mineral-rich nation.
The agreement incorporates the principal terms of a future 50/50 joint
venture between International Panorama and the Ministry of Mines should the
feasibility analysis lead to a production recommendation.
At a formal signing ceremony held in Yangon, the Minister of Mines, Kyaw
Min, stated that the agreement with International Panorama was consistent
with the objective of the Government of Myanmar to accelerate the
development of the country on the basis of a market-oriented economic
system.
Considered to be the last frontier for development in Southeast Asia,
Myanmar has only recently invited foreign capital and technical expertise to
assist in its economic advancement. Increasing investment in Myanmar by
mainly Singaporean, Thai, British, French and Japanese companies has
stimulated oil and gas exploration, hotels and tourism, fisheries, logging
and mining projects.
Foreign governments and international agencies are moving to establish
normal relations. Myanmar recently took the first step to gaining
membership in ASEAN, the Association of Southeast Asian Nations.
International Panorama continues to pursue advanced mining opportunities
in Southeast Asia and Africa.
INTERNATIONAL PANORAMA RESOURCE CORP. Kenneth
MacLeod President
The Vancouver Stock Exchange neither approves nor disapproves the
information contained herein.
--30--bin/clv
CONTACT:
CORPORATION X INC.
Corporate Communications: 604/682-1991, 800/270-3024
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