September 18, 1997 - Drilling Resumes At Sleeper
Shawn Kennedy, President of X-Cal Resources Ltd. announces that drilling at Sleeper is scheduled to re-start
immediately. The West Wood, Bedrock Casino, and Ready Line targets will be the first areas to be drilled in the fall
program.
Recent work by Placer Dome U.S. has expanded the favorable area for exploration to include the pediment covered
area to the west of the minesite. Additional claims covering the favorable area has increased the Sleeper project to
20,000 acres. Bedrock Casino is one of the improved western targets. Placer lost its exclusive right to participate in
the project with X-Cal when extension discussions deadlocked. (See news release dated August 21, 1997.)
Recent data review has included input from several of the worlds largest mining companies who have undertaken in
depth study of the project after entering into confidentiality and area of interest agreements with X-Cal.
X-Cal Resources Ltd. extended its option to purchase the Amax Gold portion of the project by paying US $250,000
and 500,000 common shares to Amax. (See news release dated August 27, 1997.) We are currently reviewing the
structure of the purchase option.
A resource of over 1,000,000 ounces of gold has been independently verified in the pit area. (See news release
dated August 21, 1997.)
Analyst meetings in Toronto and New York are being scheduled for this month.
Note: X-Cal Resources Ltd. can be referenced through the Standard & Poors Directory.
The 1996 Annual Report is available through X-Cal Resources Ltd.
TEL: (604) 662-8245 Shawn Kennedy, President FAX: (604) 688-7740 X-Cal Resources Ltd. |
