|T.S.E. SYMBOL: SAO
S.E.C. Registration: 0-22216
|Vancouver, British Columbia, April 24, 1996: San Andreas Resources Corporation is pleased to announce that it has repaid the loan of $250,000 to Derway Finance Limited, a company owned by Mr. Tony Millar, Chairman of the Board and Chief Executive Officer of the company. On the same day, Mr. Millar exercised 227,272 warrants for the purchase of 227,272 shares in the company, at a price of $1.10 per share. The warrants were issued in conjunction with the advance of the loan and had an expiry date of
April 19, 2000.
The company has 15,925,852 shares issued and outstanding. Mr. Millar currently owns, directly or indirectly, 2,850,936 shares or 17.9% of the shares issued and outstanding.
|FOR FURTHER INFORMATION PLEASE CONTACT:
SAN ANDREAS RESOURCES CORPORATION
|Tony Millar, Chairman & C.E.O.||(UK):||011 44 1252 794740|
|David Elgee, President||(CANADA):||(604) 688-2001|