Pacific Wildcat says activities in N. Sulawesi prospect remains suspended

Canadian junior mining firm Pacific Wildcat Resources Corp. said on Thursday that activities at its Sulut gold prospect in North Sulawesi remained suspended, as effort to seek for new partners or to sell the prospect was fruitless.

?Management has been and is in discussion with parties potentially interested in either farming-in on or acquiring the Company's position in the property. Political and economic turmoil in Indonesia, heightened by the September 2001 terrorist attacks in the United States and the 2002 terrorist attacks in Bali, continue to hamper management's efforts to re-activate or deal off the property. Notwithstanding these issues, there is renewed interest in gold and in large, drill stage gold properties such as Sulut,? said the company.

The company said that during the quarter mandatory, second twenty-five percent area reduction had been made to keep the Contract of Work pertaining to the property in good standing.

Pacific Wildcat is an associate company of Australian miner Sons of Gwalia. (alex)