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Company News Releases...
October 4, 2005
As previously announced on June 28, 2005, the Shareholders of
the Company elected a new Board of Directors on June 24, 2005. The new Board has
reviewed the activities of the Company to assess the status of the Morrison
Project as well as the strengths and weaknesses of the Company.
The Directors have achieved significant progress in this review and wish to
update the Shareholders as follows:
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The Company will focus its attention on the Morrison deposit
and will now call this the Morrison Copper/Gold Project and has set a course to
follow the Beacon Hill Consultants (1988) Ltd. and Knight Piésold Ltd. Mining
Plan to develop the Morrison deposit. See Project Description dated August 20th
2005 page 15 Section 6.3.2 on our website, http://www.pacificbooker.com/ for
complete details.
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The Directors met with consultants employed by the Company
and reviewed the prefeasibilty / feasibility study reports to assess progress to
date. These consultants, who have been involved with the project since 2002,
will continue to provide the required expertise to enable the Company to fully
develop the Morrison Copper/Gold Project,
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The status of the Environmental Assessment Process is as
follows:
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The BC Environmental Assessment Office has issued a Section 10(l)(c) Order
stating that the Morrison Copper/Gold project is a reviewable project, subject
to an environmental review, pursuant to Part 3 of the Reviewable Project
Regulations. The Terms of Reference for an Application for an Environmental
Assessment Certificate are being completed for submission to the BC
Environmental Assessment Office. Status of the Environmental Assessment Process
may be viewed on the BC Environmental Assessment Office web site
http://www.eao.gov.bc.ca./
- An updated Project Description has been submitted to the BC Environmental
Assessment Office
- Environmental base line studies and acid rock drainage (ARD) programs are
ongoing to collect data for the Environmental Assessment process
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A metallurgical test program commenced on March 14, 2005. The
test-work analysis is being conducted by Process Research Associates. The data
will be used to establish design criteria for the mill and concentrator plants.
The final metallurgical test-work report will be completed in October 2005.
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The Company is continuing to review the merits of the Hearne
Hill property.
In other business of the Company, The Board of Directors has
approved employee and directors options as proposed by the Compensation
Committee. The approved options will be fixed in accordance with the Company's
stock option plan. The options will total 635,000 shares at a price of $4.00
exercisable for a period of five years.
The Company is pleased to announce a non-brokered private placement consisting
of 400,000 units. The private placement units consist of one share at a purchase
price of $4.00 per share and one warrant to purchase an additional share at a
price of $4.00 exercisable for a period of two years. The proceeds of the
private placement will be used for general working capital and continued
development of the Morrison Project. No finders fee or commission was payable
for this private placement.
The Board is also pleased to announce that Mr. Tom Gegax has been appointed to a
newly formed Advisory Committee of the Company.
Mr. Gegax served as Chairman and CEO (head coach) of Tires Plus Stores for
twenty-four years. By the time he sold the company to Bridgestone/Firestone in
July 2000, it had mushroomed from a concept sketched on a restaurant napkin to a
market leader with 150 upscale stores in ten states and $200 million in revenue.
His management methods have been featured in the New York Times and Fast Company
magazine, and on CNN, CNBC, and PBS. He was named a 1995 Midwest Entrepreneur of
the Year by Inc. magazine and Ernst & Young, and is the youngest person to be
inducted into the Minnesota Business Hall of Fame™. Mr. Gegax has served on
numerous corporate and nonprofit boards.
Mr. Gegax is a successful author whose works include Winning in the Game of
Life: Self-Coaching Secrets for Success and By The Seat Of Your Pants: The
No-Nonsense Business Management Guide.
Mr. Gegax founded Gegax Management Systems in 2000 to share his Synergy Circle
business management system with growing companies. Gegax Management Systems has
offices in Minneapolis and San Diego. Learn more at
www.gegax.com or e-mail Tom
at tom.gegax@gegax.com.
On behalf of the Board of Pacific Booker Minerals Inc.
"John Plourde"
John Plourde, Executive Director
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