Doug Ashbury
Northern News Services

NNSL (Nov 03/99) - Former Royal Oak boss Margaret Witte has resurfaced as chairman and chief executive officer of Eden Roc Mineral Corporation.

Eden Roc made the announcement Friday. That same day, the company's stock was down 16 per cent at 18.5 cents Friday. Eden Roc's 52-week high and low are 25 cents and two cents.

Edon Roc, which will now relocate from Ontario to Washington, controls a heap-leach gold property in Africa. In January, the company announced a joint-venture with Anglo American Corporation of South Africa on the Africa property.

Simultaneous to the announcement of Witte's joining Edon Roc, it was also announced Harry Quint had resigned as the company's chairman and CEO but will remain a director.

Witte was granted options and certain voting rights on six million Edon Roc common shares currently owned by Marshall Minerals Corp.

She also garnered a signing bonus of 2.6 million common shares and options to purchase 2.4 million more.

Once options are exercised, Witte will be Eden Roc's second largest shareholder after Marshall Minerals.

"With higher gold prices and the improved outlook for this sector on a worldwide basis, I am looking forward to the opportunity to breathe new life into Eden Roc and its operations," Witte said.

"I believe there is a tremendous opportunity to build value for the shareholders of Eden Roc," she said.

Eden Roc's management changes also include the appointment of Ross Burns as exploration vice-president. Burns was a Royal Oak director. It has been reported that Graham Eacott, former Royal Oak vice-president, investor relations, is also now linked to Eden Roc.

NWT Labour federation president Wayne Campbell was quick to respond to news of Witte's latest career move.

According to Campbell, Witte should be held accountable for a legacy that he says includes "bad debts, back taxes to the City of Yellowknife, and the bill from her former company's environmental cleanup that will be left to the Canadian taxpayer."

As of Oct. 31, 1999, Royal Oak owed the City of Yellowknife $1.6 million in taxes and interest.