Birim Goldfields Inc.

COMPANY DATA | INTRODUCTION | PROPERTIES IN HAND | MANAGEMENT 
NEWS UPDATE | CHINESE

Address:  Suite 812, 1155 University Street
Montreal, Quebec
Canada H3B 3A7
Tel No.:  (514) 393-8611
Fax No.: (514) 393-1158
Toll Free No.: 1-800-721-8611
Web Site:  www.birim.com 
Corporate Email: info@birim.com 
Contact Person: Denis Simoneau
Position:  President

COMPANY DATA

Traded Market:  TSX
Traded Symbol: BGI
Outstanding Shares:  35.1 Million
Public Float: 15 Million
52 Week High: $ 1.46
52 Week Low:  $ 0.295
Present Price: Click here

INTRODUCTION

Birim Goldfields Inc. was incorporated in 1994 following a reverse take-over of Exroy Resources, an Ontario-based company trading over-the-counter. Birim remained on the OTC until November 26, 1996, at which time it began trading on the Toronto Stock Exchange under the symbol "BGI".

Birim's gold exploration activities are focussed in Ghana, West Africa. Its headquarters are in Montreal and its Operations office is located in Ghana's capital, Accra.

During its brief history, Birim has successfully completed five financings raising altogether a total of CAN$13.0 million, taking into consideration the exercise of warrants attached to certain issuances.

PROPERTIES IN HAND

(1) Dunkwa Prospecting Licenses (125 sq.km) lie between the long-established gold mines operated by Ashanti Goldfields Company Limited at Obuasi and that of Golden Star at Bogosu. Since late 1994, US$6.1 million has been spent on exploration. On April 16, 2003, Birim announced that it had sold the Dunkwa concession to Golden Star for US$3.4 million, to be paid upon closing of the agreement, plus a sliding scale royalty tailored to the price of gold and which can vary between 2.0% and 3.5%. This royalty comes into play as soon as Golden Star produces in excess of 200,000 ounces from the Mampon gold deposit but immediately applies to all ounces produced from anywhere else on the Dunkwa concession.

(2) Bui Reconnaissance Licence and the Krachikrom, Chenchu and Brohani Prospecting Licences, a total of 7,000 sq.km, acquired in June 1997 from Santa Fe Mining Inc. (now Newmont Gold Company) in exchange for work commitments of US$3.5 million to be incurred before September 30, 2002. Having met this commitment, Birim gave such notice to Newmont who retains a back-in right would allow it to acquire a 45.1% undivided interest in any discovery by reimbursing Birim two times historical expenditures if found on the Krachikrom and Chenchu licences or four times if found outside of these two 150 sq.km. permits. To date more than a dozen prospects have been outlines, five of which are at the drill-ready stage. The most advanced of these are the Tombe-Parabu prospect, where drilling by Birim has covered barely 10% of the 6 km long gold anomaly and the 10km long gold-in-soil anomaly (> 0.5 g/t gold).

(3) Akrokeri Prospecting Licence contiguous to Ashanti Goldfields' gold complex at Obuasi, held in a joint venture with Simon Meadows-Smith, who owns the 51% interest originally earned by Shea Gold. A gold zone has been outlines in the northern part of the property that blends into Shea Gold's Homasi gold zone contiguous to the north and currently in production by Ashanti Goldfields.

GOLD DEPOSITS OF GHANA
 

Operator

Deposit

Hist. Production (oz)

Resources/Reserves*(oz)

Ashanti Goldfields

Obuasi / Ayanfuri

29,134,016

34,000,000

Ashanti Goldfields

Bibiani

3,200,000

1,900,000

Ashanti Goldfields

Iduapriem / Teberebie

3,500,000

6,900,000

Gold Fields

Tarkwa

6,000,000

25,420,000

Gold Fields

Damang

1,450,000

2,954,000

Golden Star

Prestea

9,000,000

1,300,000*

Golden Star

Bogoso

2,100,000

800,000*

Golden Star

Wassa

250,000

1,700,000

Golden Star

Mampon & Aboronye

0

619,370

Newmont

Akyem

0

3,730,000

Newmont

Ahafo

0

3,950,000

Red Back

Chirano

0

1,061,000*

Resolute

Obotan

700,000

0

Akrokeri-Ashanti

Bonte / Goldenrae

373,881

231,395*

TOTAL

 

55,707,897

78,854,000

MANAGEMENT

Birim Goldfields Inc. has a strong management team with experience in different areas. The Board of Directors and the Officers of Birim Goldfields consist of the following persons:

Denis Simoneau, President and Chief Executive Officer, Director
Geologist, active in mineral exploration for 30 years. With Birim since January 1995, prior to which with SOQUEM and Falconbridge, Montreal, QC, Canada.

Peter Bojtos, Director
Professional Engineer, active in mining exploration over last 20 years. Lakewood, CO, U.S.A.

Raymond Desormeaux, Director
Chairman of Penson Financial Services Canada Inc., Montreal, QC, Canada.

Lew Lawrick, Director, Business Executive, Toronto, ON, Canada.

C. Thomas Ogryzlo, Director
President of Canatec Development Corporation, Toronto, Ontario, Canada.

Jean Rainville, Director
Investment Banker, Montreal, QC, Canada.

Matthew Chinn, Vice President, Exploration
With Birim since September 1997. Spent last 10 years in gold exploration in Accra, Ghana.

Geofrey Myers, Secretary
Lawyer with Lang Michener, Toronto, ON, Canada.

Michel Rathe, Chief Financial Officer
A chartered accountant involved with junior exploration companies over last 20 years, Montreal, QC, Canada.

NEWS UPDATE

On April 26, 2004, Birim Goldfields Inc. provided an update on the 2004 reverse circulation ("RC") drilling activities on its Bui District properties in Ghana, the focus of which has been completing the examination of the extensive Tombe-Parabu gold-in-soil anomaly and extending the strike length of the Tombe-Parabu North gold zone. Results to date have outlined a higher-grade gold zone at Tombe-Parabu North over a strike length of approximately 200 metres with lower grade gold mineralization extending along the structure at least 50 metres to the south and 150 metres to the north. Upon completion of the planned Tombe-Parabu drilling program, anticipated in May 2004, the Tombe-Parabu North gold zone will be further appraised to determine how to proceed with further definition of the zone to depth.

On November 03, 2003, Birim Goldfields Inc. announced the discovery of a significant gold zone on the Tombe-Parabu prospect located within its 90% owned Bui district properties in west-central Ghana.

On October 15, 2003, Birim Goldfields Inc. provided an update of the ongoing reverse circulation drilling program on the extensive Tombe-Parabu gold occurrence lying within the 7,000 square kilometer Bui District group of concessions, located in west-central Ghana. Fifty-eight reverse circulation drill holes, totaling 4,000 meters, have now been completed and an additional twenty-seven holes remain to be drilled. Twelve new trenches, totaling 3.660 meters, are planned for the Tombe North and tombe South anomalies as well as along the northern extension of the Tombe North anomaly. 

On September 15, 2003, Birim Goldfields inc. announced the results of its reconnaissance phase of reverse circulation drilling on the 12 kilometer long Brohani and Namasa gold soil geochemical anomalies located within the Bui District group of licenses. The reconnaissance drilling successfully confirmed the presence of primary in-situ gold mineralization hosted in quartz pebble conglomerate bands across a number of drill fences. Fifty-nine holes, totaling 3,411 meters, were completed: 27 over Namasa anomaly, 32 over Brohani anomaly.

On August 20, 2003, Birim Goldfields Inc. announced that it has finalized the sale of the Dunkwa Property, which includes the Mampon gold deposit, to Golden Star Resources Ltd. for US$3.4 million and a sliding scale net smelter return royalty varying between 2.0 and 3.5 percent dependent upon the gold price.

On July 04, 2003, Birim Goldfields Inc. announced the result of a recent reverse circulation drill program carried out on the Mansiso prospect, located within the Dunkwa concession in southern Ghana. The drill program consisted of twelve hoes, totaling 865 meters, drilled along four fences spaced 25 meters apart.On August 15, 2003, Birim Goldfields Inc. announced that it has finalized the sale of the Dunkwa Property, which includes the Mampon gold deposit, to Golden Star Resources Ltd. for US$3.4 million and a sliding scale net smelter return royalty varying between 2.0 and 3.5 percent dependent upon the gold price. Further details relating to the transaction were outlined in the April 16, 2003 news release.

On May 29, 2003, Birim Goldfields Inc. reported that it has commenced a 5,000-metre reverse circulation drilling program targeting several advanced-stage gold prospects on its Dunkwa concession and Bui District properties in Ghana.

On April 16, 2003, Birim Goldfields Inc. announced that it has entered into agreements with Golden Star Resources Ltd. pursuant to which Golden Star will acquire Ashanti Goldfields Company Limited's royalty commitments tied to the Mampon gold deposit, located in Ghana and will settle such royalty commitments and acquire Birim's surrounding Dunkwa property for a cash payment of US$3.4 million to Birim and a sliding-scale net smelter royalty varying between 2.0% and 3.5% dependent upon the gold price.


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