CANAMAX TO ACQUIRE KREZMAR GOLD PROPERTY STAKE
<Canamax Resources Inc> said it agreed
to acquire the 50 pct interest it does not already own in the
Krezmar gold property, near Wawa, Ontario, by paying nine mln
dlrs to <Algoma Steel Corp Ltd> and granting Algoma a four pct
net smelter return royalty, which is payable after payback.
    The property's drill indicated reserves to a depth of 1,200
feet are estimated at over one mln tons averaging 0.25 ounces
of gold a ton, Canamax said.
 Reuter
