Partners Value Split Corp T.PVS.PR.G

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Priority Ventures Ltd. is pleased to announce it has signed an option agreement with Gosfield Associates Corp. ('Gosfield') The agreement provides Gosfield with the option to earn up to a 50% working interest in Priority's Comox Basin coal and coalbed methane project. The option will be granted upon receipt of a $32,000 payment from Gosfield. The funds will be refundable within a year if a formal agreement is not completed by March 1st, 2003. The terms of the agreement in principal will be that Gosfield can earn a 50% interest by spending $1.6 million on the project. The time period in which the funds must be spent will be determined as Gosfield performs its due diligence. Priority will remain as operator focusing on achieving production from the project. Gosfield will provide staff and expertise to augment Priority's to achieve project goals as soon as possible. Gosfield is a private venture capital syndicate based in Gibraltar with a focus on coal and coalbed methane. Gosfield Associates Corp. and Forum Development Corp. are Priority's joint venture partners exploring the Nanaimo Basin on Vancouver Island as announced September 24th, 2002. If you have any questions, please contact Neil Swift at the following: Phone: [phone] Neil Swift, President Fax: [phone] Email: [e-mail]