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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Cadre Resources Buys Venezuela Land

From Staff And Wire Reports

Cadre Resources Ltd., a gold and diamond mining company based in Vancouver, British Columbia, said Monday it will buy gold-producing land in central Venezuela for $3 million.

The purchase of 1,235 acres in the Lower Caroni River in central Venezuela will move Cadre from an exploration company to the production level, Cadre spokesman Garry Montgomery said.

Cadre purchased total ownership from an independent Venezuelan businessman who had been mining the area for eight years.

Three years ago, Cadre Resources retained Hanson Industries Inc. of Spokane to conduct river dredging in the Caroni River region. However, that agreement ceased when Cadre needed to resolve issues with the Venezuelan government and various landowners, Montgomery said. , DataTimes