LEXAM EXPLORATIONS INC.
NEX BOARD : LEX.H

LEXAM EXPLORATIONS INC.
Robert R. McEwen

September 01, 2005 16:30 ET

Acquisition of Shares of Lexam Explorations Inc.

TORONTO, ONTARIO--(CCNMatthews - Sept. 1, 2005) - In accordance with regulatory requirements, Evanachan Limited ("Evanachan"), a company wholly-owned by Robert R. McEwen, announces that he has acquired 18,990,641 common shares of Lexam Explorations Inc. ("Lexam") (NEX:LEX.H) from Goldcorp Inc. ("Goldcorp") (TSX:G) and one of its subsidiaries for aggregate consideration of $399,999. These securities represent approximately 49.8% of the issued and outstanding Lexam common shares. Mr. McEwen is the Chairman and Chief Executive Officer of Lexam and is the Chairman of Goldcorp.

Evanachan and Mr. McEwen now hold an aggregate of 19,101,752 common shares of Lexam, which represents a 50.1% interest in Lexam, on an undiluted basis.

The securities of Lexam held by Evanachan are held for investment purposes. It is the intention of Evanachan to evaluate the investment in Lexam on a continuing basis and such holdings may be increased or decreased in the future.


Contact Information

  • Lexam Explorations Inc.
    Robert R. McEwen
    Chairman and CEO
    (416) 865-0326