SUDBURY, March 14, 2000 - The Ontario Innovation Trust (OIT) will provide $1.92 million in funding to Laurentian University that is the final commitment needed to establish a new Centre for Integrated Monitoring Technology in Sudbury.

The Centre for Integrated Monitoring Technology, or CIMTec, will provide state-of-the-art technology, in the form of a computing network infrastructure, which support interdisciplinary research and development projects in the mining sector.

"Our support will enable CIMTec to get started on its development of a data acquisition facility with data storage capabilities, and a database distribution network," said David Bogart, Executive Director of the Ontario Innovation Trust, in announcing the funding today in a special ceremony at Laurentian University.

"The Centre will also have a data processing facility that will serve engineering and scientific research and development goals.

"This will enable faculty and staff researchers, graduate students, industry partners and others to interact," he said, "and conduct high-end research that demands high-speed, large-volume data collection and transfer, as well as state-of-the-art visualization and communication equipment."

This infrastructure will allow engineers and scientists to tackle larger research projects, from a regional to a global scale, and provide opportunities to develop monitoring applications with commercial partners, government agencies and non-profit organizations. It will support both fundamental and applied research.

CIMTec will encompass all aspects of monitoring - remote data acquisition, data storage, data processing, and data dissemination for process control and operational decision-making. The focus will be on transferring knowledge, created by research, to the private sector.

The overall goal of CIMTec is to undertake projects in partnership with industrial sponsors and technology providers that will contribute to safe, sustainable and cost-effective mining.

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Page Two - OIT Funding for CIMTec, Laurentian University in Sudbury

March 14, 2000

CIMTec is a shared venture involving Laurentian University and the Mining Innovation, Rehabilitation and Applied Research Corporation (MIRARCO), a not-for-profit corporation that promotes mining innovation and is designed to provide an active and effective link between knowledge and its providers.

MIRARCO was founded in 1998 as an applied research and service company, formed through collaboration between the Mining Research Centres at Laurentian University and other private and public sector organizations. It is a knowledge-based service company focused on assisting the mining industry by bridging the gap between research and users of research findings.

The Ontario Innovation Trust has a mandate to assist the province's colleges, universities, hospitals and other non-profit organizations carry out scientific research and technology development by enhancing the infrastructure needed for research. The OIT was established by the Province of Ontario in March 1999.

Today's announcement brings the total amount invested in research infrastructure by the Ontario Innovative Trust to more than $160 million.

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For more information:

David Bogart

Executive Director, Ontario Innovation Trust

(416) 592-3600

Email: dbogart@interlog.com