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Sherlock Bay Nickel Corp. Ltd - 23-Aug-04

Heads of agreement has been signed between with Samarinda Mining and Consulting Services Pty Ltd regarding exploration application E47/1382 located in the Sherlock Bay area. SBNC will pay Samarinda $10,000 plus refund related costs of $2,133.60 and subject to the granting of the tenements to the company, will issue to Samarinda one million fully paid ordinary shares.

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