| ||July 16, 2003|
Loan Converted to Shares of Diamonds North
| ||Commander Resources Ltd. has converted the balance of its 2002 loan to Diamonds North Resources Ltd. and accompanying warrants to hold 1,790,000 shares representing 9.32% of Diamonds North's issued shares at July 15, 2003. Diamonds North, created in 2002 by Commander, explores for diamonds in Nunavut, N.W.T. and other areas of Canada. |
Commander, renamed in 2002 from Major General Resources Ltd., explores for gold, nickel and copper/zinc/silver in Canada. Currently for its own account and in partnership with several large producers it is exploring in Newfoundland for gold, in Labrador for nickel, in Nunavut for gold, copper/zinc/silver and nickel and in Yukon for copper/gold. It has cash of $1.2 million. Working capital is $2.7 million, equivalent to $0.15 per issued share.
William J. Coulter
For more information, please contact:
Commander Resources Ltd.
1550-409 Granville Street
Vancouver, B.C. V6C 1T2
Tel. (604) 685-5254 Fax (604) 685-2814
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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