CONTRACT NEWS Aker Kvaerner to Study Vietnamese Project

TORONTO TIBERON MINERALS and its partners have awarded the contract for the Nui Phao feasibility study to the Aker Kvaerner E&C Division of AKER KVAERNER CANADA. The study should be complete in the third quarter of 2004. Nui Phao is a tungsten-fluorspar project in Vietnam.

Aker Kvaerner has been involved in several projects in Vietnam. One of the latest was the development of the Nam Con Song offshore gas field for the licence group consisting of BP, ONGC of India, ConocoPhillips and state-owned PetroVietnam.

In the metals industry, Aker Kvaerner is currently completing construction of a copper smelter and refinery in Thailand and performing EPCM for Glamis Gold's El Sauzal project in Mexico. Other current work includes providing feasibility study and basic engineering services for BHP Billiton's Spence project in Chile, and feasibility studies for Gold Reserve's Las Brisas project in Venezuela, and CVRD's Projeto 118 in Brazil.

Information about Aker Kvaerner's global capabilities is posted at www.kvaerner.com.