Magnum secures interest in Mongolian properties and awaits results from on-going work program
13 November 2003 - 2:01PM
PR Newswire (US)
Magnum secures interest in Mongolian properties and awaits results
from on-going work program TRADING SYMBOL (OTCBB: MAGR) TORONTO,
Nov. 13 /PRNewswire-FirstCall/ -- Mr. Reno J. Calabrigo, President
of Magnum d'Or Resources Inc. (Magnum), a junior resource
exploration development Company is pleased to announce that Magnum
has successfully completed the terms outlined in the 2003 Option
Agreement on the North and East zone properties. Further to the
Company's new release dated September 23, 2003, Magnum has secured
its 40% interest through a Phase 1 work program by completing
expenditures of US $75,000 on the two recently acquired Mongolian
claims, license 4768X (north) and license 4767X (east)
respectively. Mr. Calabrigo stated, "The expenditures were met one
year ahead of schedule/requirement, thus confirming the Company's
plans to aggressively explore areas of interest in the approximate
150,000 hectare licenses that Magnum has under option to acquire".
The results of the Phase I work program is currently being
analyzed, and the information will be released in the near future.
Upon the completion of the Phase I program, the Company will have
the opportunity to activate a Phase II work program which would
result in an additional 30% interest in the two properties. The
board of directors is anxious to obtain the results from the
on-going work program, and is equally eager to advance the
properties at an expedited rate where necessary. Mr. Calabrigo
further stated, "We remain committed and enthusiastic towards
achieving the Company's goals of securing early stage properties,
and finding a new discovery." A number of statements contained in
this press release are forward-looking statements that are made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
involve a number of risks and uncertainties including but not
limited to: competitive market conditions, successful integration
of acquisitions, and the ability to secure additional sources of
financing. The actual results that Magnum may achieve could differ
materially from any forward-looking statements due to such risks
and uncertainties. MAGNUM d'Or RESOURCES INC.
http://www.magnumexploration.com/ DATASOURCE: Magnum d'Or Resources
Inc. CONTACT: Reno J. Calabrigo, President, Telephone: (416)
386-0044, Email:
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