KIDSTON PROPERTY
Date: July 19, 2000
Millstream Mines Ltd. announces for purposes of clarification that the optioned block of 3 unpatented claim units in the Munro Township (P.R. January 25, 2000) sometimes referred to as "Potterdoal Plunge Property" or "Potterdoal Property" henceforth will be called the Kidston Property.
The status of Millstream's agreement with Orogrande Resources Inc. (P.R February 9, 2000) regarding the Kidston Property has been modified to accommodate both parties. Orogrande's initial $100,000 funding commitment due date of December 22, 1999 was extended for half of it ($50,000) to February 28, 2000. Orogrande's issuing of 100,000 common shares due date of 60 business days after December 20, 1999 was extended to May 24, 2000. Orogrande's next funding commitment due date of June 30, 2000 has been extended to September 30, 2000. The considerations for these extensions are outstanding items yet to be settled.
To date Millstream has expended in excess of $120,000 regarding its Kidston Property exploration program. Millstream committed to Orogrande to continue the exploration program and complete the initial diamond drilling element on or before September 01, 2000. The drilling information being critical for Orogrande's decision as to continuing with its option and funding requirements. Initially, Millstream anticipated to commence such drilling earlier or at least before July 15, 2000, and if not, agreed to cause delivery to Orogrande of 1,000,000 common shares of Millstream (subject to regulatory approval) against completing such drilling by September 01, 2000. Upon Millstream's failure to do so, Millstream has until December 31, 2000 to pay Orogrande $100,000 in exchange for the 1,000,000 shares held. Likewise, Orogrande's failure to meet its next funding ($150,000) due date of September 30, 2000 could cause its option agreement and participation in the Kidston Property to be terminated without any interest earned.
Millstream is actively sourcing additional funding to continue with its Kidston Property exploration program.
Millstream, further wishes to announce and remind the interested public of its web site location: WWW.MILLSTREAMMINES.COM.
The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.
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For further information contact:
Mr. Ernest Harrison, EM Phone: 705-474-7282
Mr. Marty Martinello, B.A. Fax: 705-474-5491
or
Mr. Peter H. Brodie Brown Phone: 416-368-9595
Mr. Robert Chase, B.A. Fax: 416-368-0584
Email: mlsm@passport.ca
No regulatory authority or similar body approved nor disapproved the information contained herein.