The following was issued today by Ed Byrne, Minister of Natural Resources. It was also read in the House of Assembly:

I rise today to inform this House of the successful roll-out of the province�s online mineral claim staking program.

The online staking system went into operation on February 28 and Newfoundland and Labrador is now only one of three provincial jurisdictions to provide clients with the ability to stake mineral claims via the Internet.

Since the system became operational, over 4,000 claims have been staked online by clients at various locations from across Newfoundland, Labrador West, and from junior mining companies based in other parts of Canada. Furthermore, on March 8 during the recent annual convention of the Prospectors and Developers Association (PDAC) in Toronto, Charlie Dearin of South Coast Ventures Inc. staked four claims near York Harbour online. This is the first time a claim has ever been staked in Newfoundland and Labrador from the convention floor of the PDAC.

Comments from our clients who have successfully completed staking transactions online have been extremely favourable. The ease of use, the convenience of 24/7 staking and, above all, the confidence in securing a mineral title upon completion of a staking transaction are features of the system that better serve those in the business of mineral exploration.

The implementation of the online staking program marks the completion of a major information technology initiative within the mineral lands division. The new Mineral Rights Administration (or MIRIAD) System was developed in partnership with X-Wave. As well, during the design and development of the MIRIAD system, considerable consultation with the mineral industry was completed and we responded to the concerns and issues identified.

Using state-of-the-art technology, the MIRIAD System integrates a custom database for mineral titles management with the geographic information system and government�s financial management system. MIRIAD also incorporates the fundamental hallmarks of this province�s mineral land tenure policies and provides a competitive and impartial mechanism for mineral land tenure to be acquired for exploration and development.

The Internet has become an invaluable tool to individuals and companies involved in mineral exploration and development. The provision of essential services like mineral claim staking via the Internet is the natural progression and the way of the future for jurisdictions that are serious in attracting private investment in mineral exploration and development.

The MIRIAD system is another tool by which this province continues to encourage the exploration of our mineral resources. We will continue to seek opportunities to promote this province�s mineral prospectivity using the Internet.

We anticipate that expenditures on mineral exploration in 2005 will reach $40 million, up from $29 million last year. This investment is certainly positive for the province�s economy, particularly for rural Newfoundland and Labrador. It is our hope that increased exploration will lead to more finds, more developments and, inevitably, more benefits for Newfoundlanders and Labradorians.

2005 04 11                        1:50 p.m.