KINAM GOLD INC. announced that it has acquired an aggregate of 7,400,000 common shares of X-Cal Resources Ltd.
Toronto, Ontario -- KINAM GOLD INC. (NYSE - KGC.PRB) announced that it has acquired an aggregate of 7,400,000 common shares of X-Cal Resources Ltd. ("X-Cal"), at various times over the past three years, pursuant to the terms of an Option Agreement dated March 29, 1999, whereby X-Cal may acquire all of Kinam's rights and interests in the Sleeper Mine located in Humboldt County, Nevada. Kinam now holds an aggregate of 9,000,000 common shares representing 18.8% of the issued and outstanding common shares of X-Cal.
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