Mahdia Gold Corp MHGPF

News Release

[causa]

Mandorin Goldfields Inc (C-MGD) - News Release Mandorin to acquire Canadian, Australian rights Mandorin Goldfields Inc MGD Shares issued 43,141,226 Apr 28 2003 close $ 0.03 Tuesday April 29 2003 News Release Mr. Malcolm Stevens reports MANDORIN GOLDFIELDS INC.: ANNOUNCEMENT Diamond search project -- final documentation signed Mandorin has signed, today, arm's-length licence and ancillary agreements with UniQuest Pty. Limited, the commercialization arm of the University of Queensland, whereby Mandorin gains exclusive worldwide rights to previously unexplored diamond exploration targets identified using a new exploration model or paradigm. Mandorin is gaining access to an exploration model it anticipates will provide it with a competitive advantage in its exploration activities. Once TSX Venture Exchange regulatory approval is gained and, subject to the acquisition of "rights to explore," exploration on eight prospective diamondiferous properties in Australia and Canada is proposed. The "rights to explore" these areas are being pursued and are subject to regulatory approval by the appropriate authority. The exploration programs, using the new model, will encompass target generation/identification, field geological investigation and drill testing of kimberlite/lamprolite targets. The consideration for the acquisition of the licence is a mixture of cash, shares and a royalty. The shares amount to 10 per cent of the issued capital at the time regulatory approval is obtained. The cash consideration is payable over 18 months with extensions available to Mandorin at additional cost. Upon final payment, Mandorin obtains a 20-year licence. The transaction is subject to the approval of the relevant regulatory authorities. (c) Copyright 2003 Canjex Publishing Ltd. https://www.stockwatch.com old url (better for printing)