Breakwater To Buy Metco Resources

Breakwater To Buy Metco Resources

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DOW JONES NEWSWIRES


Breakwater Resources Ltd. (BWR.T) has reached an agreement with Metco
Resources Inc. (MKO.V) whereby Breakwater will purchase 100% of Metco for 7
million common shares of Breakwater.


Brekawater said this agreement is subject to normal closing conditions
including the approval of regulatory authorities and Metco shareholders at a
special and general meeting expected to be held mid-March.


In Lebel-sur-Quevillon, Metco and Breakwater have a 50/50 joint venture on
properties extending over 15 kilometers in the same deformation corridor as
Breakwater's current deposits. The companies also share the Orphee Deposit.


Breakwater, Toronto, is a mining, exploration and development company that
produces zinc, copper, lead and gold.


-Tara Zachariah; 416-306-2100; A