Press release:
PHOENIX GOLD RESOURCES LTD.
Box 1977, Grand Forks, BC, V0H 1H0
Website:ÿ phoenixmining.com
NEWS RELEASE
September 15, 1998
ÿÿÿÿÿÿÿÿ
VSE Trading Symbol:ÿ PHO
CUSIP No.:ÿ 718923-10-5
US 12g3-2(b) No:ÿ 82-4419
First Silver/Gold Dor‚ Bars Produced
-- Production Plans Update --
Phoenix Gold Resources Ltd. (the "Company") is pleased to report the first
silver/gold dor‚ bars have been produced from ore previously stockpiled at
its Coyote Knolls property in Utah.ÿ Approximately 1,000 ounces of
silver/gold dor‚ bars have been produced at an off-site facility as a bulk
test.ÿ The dor‚ bars have been accepted by and delivered to the final refiner.
Based on the success of the first bulk sample, the Company may begin a
second bulk test of a larger tonnage soon.ÿ This would fine tune the
refining process which will aid in the development of an ongoing production
process.
The Company had originally set up a small production plant on the property
to process a 10,000 ton stockpile of silver ore available on and near
surface (see News Release of April 14, 1998 for background).ÿ The Company's
intention has been to fund further exploration of the property through cash
flow generated from production of the stockpiled and near surface ore.ÿ The
on-site plant was not able to process a sufficient volume of ore in its
current configuration.
Subsequently, the bulk sample described above was shipped to an operational
mill approximately 100 miles from the Coyote Knolls property.ÿ The bulk
sample was then processed with the final result of approximately 1,000
ounces of silver/gold dor‚ bars.
The Company is continuing to discuss the viability of going underground on
the Coyote Knolls property with a number of parties.
The Company's website, <http://www.phoenixmining.com>, has recently been
updated.ÿ It now contains several new photographs of the first dor‚ bars
produced, the off-site facilities and the Coyote Knolls property. (Note:
the server is being changed and the updates may not appear immediately -
please check again soon)
Management is extremely pleased with the recent and current developments
with the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
"JOHN W. CARSON"
JOHN W. CARSON, President
INVESTOR RELATIONS in Vancouver:
ROBERT MATTHEWS
Phone: 604.732.8366
Fax: 604.732.4096
Toll Free: 888.732.8366
Email: RMatthews@phoenixmining.com
Website:ÿ phoenixmining.com
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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