FORM 4 U.S. Securities and Exchange Commission
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Check this box if no longer OMB APPROVAL
subject to Section 16. Form 4 or OME Number 3235-0287
Form 5 obligations may continue. Expires:April 30,1997
See Instruction 1(b). Estimated average
burden hours per
response .. 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act
of 1934. Section 17(a) of the Public Utility Holding Company Act
of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Shanley Frank E.
(Last) (First) (Middle)
444 Madison Avenue, 34th Floor
(Street)
New York New York 10022
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Summo Minerals Corporation
3. IRS or Social Security Number of Reporting Persons
(Voluntary)
4. Statement for Month/Year
02/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all
applicable)
X Director 10% Owner
Officer (give title Other (specify
below) below)
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TABLE I
NON-DERIVATIVE SECURITIES ACQUIRED,
DISPOSED OF, OR BENEFICIALLY OWNED
1. Title of 2. Transaction 3. Transaction
Security Date Code
4. Securities Acquired (A) or Disposed of (D)
Amount (A) or (D) Price
5. Amount of Securities Beneficially Owned at End of Month
6. Ownership Form: Direct (D) or Indirect (I)
7. Nature of Indirect Beneficial Ownership
TABLE II
DERIVATIVE SECURITIES ACQUIRED,
DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
Options to purchase common stock
2. Conversion or Exercise Price of Derivative Security
$1.50 Cdn.
3. Transaction Date (Month/Day/Year)
02/06/97
4. Transaction Code
A - V
5. Number of Derivative Securities Acquired (A)
or Disposed of (D)
150,000 (A)
6. Date Exercisable: Expiration Date (Month/Day/Year)
02/06/97* 02/06/2001
7. Title and Amount of Underlying Securities
150,000 shares of common stock
8. Price of Derivative Security
Nominal
9. Number of Derivative Securities Beneficially Owned at End of
Month
150,000
10. Ownership Form of Derivative Security:
Direct (D) or Indirect (I)
D
11. Nature of Indirect Beneficial Ownership
Explanation of Responses:
* 25% of the options may be exercised immediately. An
additional 25% may be exercised on February 6, 1998. An
additional 25% may be exercised on February 6, 1999. An
additional 25% may be exercised on February 6, 2000.
This report is a voluntary disclosure.
/s/ James D. Frank April 30, 1997
Attorney in Fact
Signature of Reporting Date
Person
** Intentional misstatements or omissions of facts constitute
Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C.
78ff(a).
NOTE: File three copies of this Form, one of which must be
manually signed. If space provided is insufficient,
See Instruction 6 for procedure.
