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Magnum secures interest in Mongolian properties and awaits results from on-going
work program
TRADING SYMBOL (OTCBB: MAGR)
TORONTO, Nov. 13 /PRNewswire-FirstCall/ -- Mr. Reno J. Calabrigo, President of
Magnum d'Or Resources Inc. (Magnum), a junior resource exploration development
Company is pleased to announce that Magnum has successfully completed the terms
outlined in the 2003 Option Agreement on the North and East zone properties.
Further to the Company's new release dated September 23, 2003, Magnum has
secured its 40% interest through a Phase 1 work program by completing
expenditures of US $75,000 on the two recently acquired Mongolian
claims, license 4768X (north) and license 4767X (east) respectively. Mr.
Calabrigo stated, "The expenditures were met one year ahead of
schedule/requirement, thus confirming the Company's plans to aggressively
explore areas of interest in the approximate 150,000 hectare licenses that
Magnum has under option to acquire".
The results of the Phase I work program is currently being analyzed, and the
information will be released in the near future. Upon the completion of the
Phase I program, the Company will have the opportunity to activate a Phase II
work program which would result in an additional 30% interest in the two
properties.
The board of directors is anxious to obtain the results from the on-going work
program, and is equally eager to advance the properties at an expedited rate
where necessary. Mr. Calabrigo further stated, "We remain committed and
enthusiastic towards achieving the Company's goals of securing early stage
properties, and finding a new discovery."
A number of statements contained in this press release are forward-looking
statements that are made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
involve a number of risks and uncertainties including but not limited to:
competitive market conditions, successful integration of acquisitions, and the
ability to secure additional sources of financing. The actual results that
Magnum may achieve could differ materially from any forward-looking statements
due to such risks and uncertainties.
MAGNUM d'Or RESOURCES INC.
http://www.magnumexploration.com/
DATASOURCE: Magnum d'Or Resources Inc.
CONTACT: Reno J. Calabrigo, President, Telephone: (416) 386-0044,
Email: