GIANT BAY <GBYLF>, YELLOWKNIFE <GYK> APPROVE DEAL
Giant Bay Resources
Ltd said its and Giant Yellowknife Mines Ltd's directors
approved a previously announced plan to build and operate an
ore bioleach plant at Giant Yellowknife's Salmita Mill in the
Northwest Territories.
    It added that it also received regulatory approval for the
first of the private placements and warrants to be issued under
the pact.
    The program, expected to start operating by the end of
April, will cost about 750,000 dlrs, with Giant Bay's share
expected to total up to 450,000 dlrs, it said.
 Reuter
