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)
     

                                 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.