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Non-Tech : NP Energy (NPEC)

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To: Geoff Coates-Wynn who wrote (25)	10/21/1997 10:00:00 AM
From: WHL	of 51

Company Press Release-Tuesday September 2 9:31 AM EDT NP Energy Corporation enters negotiations to acquire 100% interest in 14 gold properties in historic gold camp of Pocone Brazil LAKE ELSINOR, Calif.--(BUSINESS WIRE)--Sept. 2, 1997--NP Energy Corporation (OTC BB:NPEC) has entered negotiations to acquire a 100% interest in 14 gold properties in the historic gold camp of Pocone Brazil. The properties are located 10 kilometers from the town of Pocone at Antena. The potential of the Cuiaba formation at Antena has been known since 1720 when pioneers exploited gold in the area. More recently, quartz veins and phyllites with gold grades as high as 10 grams/ton had been mined at the site for 10 years. Mechanical excavators were later used to open 10 to 20 meter wide trenches in crude open pit mining of between 200 and 1000 cubic meters per pit. Gold grades from this type of non selective shallow bulk mining were between 0.5 and 2 grams/ton. Of additional interest to the project is an abundance of tailings material from the early mining process. Tailings dams contain 1,000,000 cubic meters of material ranging from 0.5 to 2 grams of gold/ton with higher grades at a depth of 10 meters into the tailings. Considering a bulk density of 1.7 grams per cubic meter and an average gold grade of 0.7 grams gold/ton this tailing dam is expected to contain 1 tonne of gold. It is recommended that a plant of 2000 tons per day processing capacity be installed immediately. This would produce 1.5 to 2 kilograms of gold per day. The primary in-situe ore has produced 500 kilograms of gold to date and a program designed to test this ore to depth and block out tonnage is also recommended. No drilling has been done in the region but, as recoveries from even the low tech mining operations used have proven to be economic, it is clear that a major gold deposit is possible at this site. For further information please contact Investor Relations: Dave DiRicco - 415-261-9608 On behalf of the Board of Directors Per: Larry Regis, President ------------------------------------------------------------------------ Contact: NP Energy Corporation Dave DiRicco, 415/261-9608

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