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Message: NEWS (Marketwire Amended): DIAGNOS Signs Largest Strategic Agreement for ...

NEWS (Marketwire Amended): DIAGNOS Signs Largest Strategic Agreement for ...

posted on Apr 01, 2008 07:58AM
BROSSARD, QUEBEC, Apr 01, 2008 (MARKET WIRE via COMTEX) -- DIAGNOS inc. ("DIAGNOS" or the "Corporation") (CA:ADK: news, chart, profile) , a leader in the use of artificial intelligence ("AI") and advanced knowledge extraction techniques, announced today the signature of a service agreement for a large targeting project with a Canadian private investment group. DIAGNOS will use its CARDS (Computer Aided Resources Detection System) on the data acquired from the Canadian government with the aim of identifying targets for precious and base metals on a territory covering 23,178 squared kilometers.
The highlights of this agreement are:
- DIAGNOS will receive an amount of $350,000 in cash for the data analysis.
- A 2% NSR (Net Smelter Return) bonus will also be paid to DIAGNOS for each economical discovery on the studied zone. The private investment group will have the option to acquire 1% of this NSR for $1 000 000 at all time.
- A success bonus upon economic feasibility study of $250,000 per discovery that can be paid in cash or shares.
- Diagnos will be providing geological services to the private investment group in an amount not yet determined.
DIAGNOS, a multidisciplinary corporation, can count on a 22-people team among which professionals in geophysics and geology; artificial intelligence specialists, mathematicians, imagery and remote sensing. This team will be analyzing the following data acquired from the Canadian Federal Government and provincial government: a coverage of MAG, Spectrometry, EM and geochemical (lake sediments) that covers 50 elements. There is 3,600,000 airborne coordinates on a 40mX40m grid. A second coverage of MAG, Spectrometry and geochemical (lake sediments) that covers 35 elements and 8 million airborne coordinates. There is a total of approx. 12 million airborne coordinates with information over 1,600 existing drill holes.
For further information, please visit our Website at www.diagnos.ca. The Corporation's objective is to develop a royalty stream by significantly enhancing and participating in the exploration success rate of mining and oil and gas companies.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
DIAGNOS inc.
Andre Larente
President
450-678-8882, ext. 224
[email protected]
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