Gold Mines of Sardinia Limited

A.C.N. 009 234 851

8 Feb 2000
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February 8, 2000

Manager Companies
Australian Stock Exchange Limited
2 The Esplanade
PERTH WA 6000

Dear Sir

Please find attached a News Release regarding

the appointment of Mr. Vittorio Gori as a director of the Company
Lit.5.5b (approx A$4.5m) Grant - Law 752 issued by the Ministry of Industry

Yours faithfully

GOLD MINES OF SARDINIA LIMITED

JEANNETTE P. SMITH

COMPANY SECRETARY

 

NEWS RELEASE

Appointment of director

The directors wish to advise that Mr. Vittorio Gori has been appointed a director to the Boards of Gold Mines of Sardinia Limited and its 90 per cent owned operating subsidiary, Sardinia Gold mining SpA.

Vittorio Gori was born in 1947 and completed a degree in Mechanical Engineering at La Sapienza University, Rome. He is the son of one of the founders of the Gori & Zucchi Group, established in 1926, and is currently Italy's largest jewelry manufacturer . Mr Gori was Managing Director until the company was sold in 1999. At present he is Chairman and a non-executive director.

 

Law 752 Grants

Sardinia Gold Mining SpA (SGM) has recently received Decrees from the Ministry of Industry for additional Law 752 exploration funding grants totalling Lit5.5b (AUD$4.5) of which Lit.2,478,250,000 (AUD$2m) is for Furtei and Lit.2,977,785,000 (AUD$2.4m) for Osilo.

Funding relating to these Decrees will come to hand over the next 12 months or so; however, the Company will seek bridging finance against these grants, as it has done in the past, with local Italian banks.

Further information

 

John Morris
Gold Mines of Sardinia Limited
Chelsea Professional Centre
3/145 Stirling Highway
Nedlands, WA 6009
Phone: +61 8 9389 7711
Fax: +61 8 9389 7722
e-mail: gms@gmsltd.com.au

 

 

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