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Re: NYBob post# 181

Friday, 08/02/2013 2:23:04 PM

Friday, August 02, 2013 2:23:04 PM

Post# of 183
Cross Lake Minerals (TSE:CRN) = (ZBLFF) -

bottom lines;
cleaned out 99.99% complete by the banks receivers -
USSR's red copycats =
ZBLFF left to old shareholders of the
newest BC's, Canada; biggest gold mill company -
Current Price
Volume:
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ZBLFF Detailed Quote Wiki

Procon Completes Investment in Cross Lake
VANCOUVER, BRITISH COLUMBIA, Jun 1, 2009
(Marketwire via COMTEX) --

Procon Mining and Tunnelling Ltd.
("Procon") of Suite 108 - 4664 Lougheed Highway, Burnaby,
British Columbia, V5C 5T5 reports its recent acquisition
of securities in 0373849 B.C. Ltd.
(formerly Cross Lake Minerals Ltd.)
(the "Company") at a purchase price of $1,650,000.

Pursuant to the amended and restated plan of compromise and
arrangement (the "Plan") filed by the Company on
May 21, 2009 pursuant to the Companies'
Creditors Arrangement Act ("CCAA") and
the British Columbia Business Corporations Act,
the investment agreement between Procon and
the Company dated April 3, 2009 as amended on May 7, 2009 and
upon conversion of a non-interest bearing loan of $1,650,000
to the Company (the "Loan"), on June 1, 2009
Procon acquired from the Company ownership of 56,885,026
common shares and 695,135,018,831 non-voting shares of
the Company.
Each common share and non-voting share was issued at
a price of $0.0000023734453621304 per share.
Procon acquired the common shares and non-voting shares
of the Company for investment purposes.

As a result of the acquisition of the shares, Procon
now owns 56,885,026 common shares and 695,135,018,831
non-voting shares of the Company representing
approximately 45% of the (voting) common shares and
100% of the non-voting shares of the Company,
providing Procon with the ownership of 99.99% of
the total equity of the Company.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

SOURCE: Procon Mining and Tunnelling Ltd.

International Wayside Gold Mines Ltd.: Court Approves Cross Lake Plan of Arrangement Including Proposed QR Mine & Mill (900 tpd) Acquisition

VANCOUVER, BRITISH COLUMBIA, May 28, 2009 (MARKETWIRE via COMTEX) -- International Wayside Gold Mines Ltd. ("Wayside") (TSX VENTURE: WYG)(FRANKFURT: IWUB) is pleased to announce further to News Release 09-09 dated May 19, 2009, that as previously stated, the creditors of Cross Lake Minerals Ltd.("Cross Lake") approved an amended and restated plan of compromise and arrangement (the "Plan"), which amended, in a number of technical respects, the plan of compromise and arrangement filed on April 7, 2009 pursuant to the Companies' Creditors Arrangement Act and B.C. Business Corporations Act.

On May 25, 2009, the British Columbia Supreme Court issued the final order to approve the Plan, which among other things, allows for a subsidiary of Cross Lake to hold all of Cross Lake's interest in the QR Mine and Mill (the "QR Subco"). Wayside intends to proceed to enter into an agreement ("the Agreement") first announced on February 04, 2009 and updated April 9, 2009 whereby Wayside will purchase the QR Subco. Completion of the Agreement is subject to the satisfaction of a number of conditions including, but not limited to, completion of due diligence and obtaining the necessary shareholder, regulatory and Court approvals.

The 900 tonne per day QR Mill, which was fully operational until February 2009 (now on care and maintenance), is a CIP mill designed for an output of 70,000 ounces of gold per annum for that location. The mill is located 110 km by road from Wayside's Cariboo Gold Project and proposed Bonanza Ledge Mine. Following a positive feasibility study in 1994, Kinross Gold Corp. constructed the QR Mill with capital costs estimated at over $40 million.

Cross Lake commenced operations at the QR Mine in 2007 -

- after spending over $34 million in the preceding 24 months

- on project acquisition ($4.3 million),

- exploration & development ($20 million)

- and refurbishing the mill facilities ($10.3).

- Cross Lake expended an additional $3 million on asset
retirement obligations, including having BC Hydro
bring three phase power to the project.

It is Wayside's objective to process material from its proposed Bonanza Ledge Mine at the QR Mill, in addition to recommencing operations at the QR Mine.

The Company initiated operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,065 square km (106,484 hectares) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.

ON BEHALF OF THE BOARD OF DIRECTORS

J. Frank Callaghan, President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
International Wayside Gold Mines Ltd.
Andrew H. Rees
Director
604-669-6463 or Toll Free: 1-800-663-9688
604-669-3041 (FAX)
www.wayside-gold.com


SOURCE: International Wayside Gold Mines Ltd.

CONTACT: http://www.wayside-gold.com


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