NOVAMIN IN PROPOSED BUYOUT BY BREAWATER &lt;BWRLF>

  &lt;Novamin Inc> said it received a
  proposed takeover offer from Breakwater Resources Ltd involving
  a swap of one Breakwater share for two Novamin common shares.
      It said the proposal also called for conversion of
  outstanding Novamin warrants into Breakwater common shares on
  the same basis, provided the exercise price was paid by the
  warrant holders.
      Novamin, a mineral exploration company, said directors
  would meet next Tuesday to deal with the proposal, which, it
  said, was subject to approval by Breakwater directors.
  

