Lonmin, Freegold Ventures and Pacific North West C
Lonmin Plc
GB0031192486
22 May 2003
Lonmin, Freegold Ventures and Pacific North West Capital
Enter into Joint Venture over Union Bay Platinum Project
Lonmin Plc is pleased to announce that it has entered into a joint venture
agreement with Freegold Ventures Limited (Freegold), Freegold Recovery USA, Inc
(a wholly owned subsidiary of Freegold), and Pacific North West Capital Corp
(PFN) to explore the Union Bay property in SE Alaska for platinum group metals
and associated metals and minerals. Both Freegold and PFN are listed on the
Toronto Stock Exchange. Lonmin may earn up to a 70% interest in the project by
delivering a full feasibility study.
The Union Bay prospect covers a zoned ultramafic intrusion known to contain
several platinum-bearing zones. Since the prospect is at a relatively early
stage of development, the initial exploration effort will be focused on
determining the extent and continuity of the platinum bearing zones and on
further exploring the intrusion to define additional targets.
PFN will be the operator of the joint venture for the Exploration Phase and
Lonmin will become the operator thereafter.
END
For further information please contact:
Ian Farmer/Chris Davies Lonmin +44 (0)207 201 6000
Jackie Range CardewChancery +44 (0)207 930 0777
Reference may also be made to the websites www.freegoldventures.com and
www.pfncapital.com
Date: 22/05/2003 08:00:10 AM Supplied by www.sharenet.co.za
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