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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: tyc:> who wrote (2477)	5/16/2001 12:28:10 PM
From: Al Collard	of 11802

tyke, news out on your pick IMN-t: Inmet Mining Corp Wed 16 May 2001 News Release See Altius Minerals Corp (ALS) News Release Mr. Brian Dalton reports Diamond drilling on the Robert's Arm property has commenced. The property is located in the northern portion of the Buchans-Robert's Arm volcanic belt in central Newfoundland and is considered to be prospective for volcanogenic massive sulphide (VMS) mineralization. Drilling will test for extensions of the Bumble Bee Bight zone below previous drilling. The deepest test of this zone to date returned an intersection of 4.4 per cent copper over a core length of 4.4 metres. A minimum of two holes are planned during this stage of drilling. A map and section are also posted on the company Web site at www.alt-min.com. The Robert's Arm property is the subject of an earn-in joint venture agreement with Inmet Mining announced in October, 2000. Inmet may earn up to 55 per cent in the property by financing exploration and making cash payments over a five-year period. Altius is the operator. Geoffrey Thurlow, PhD, PGeo, is the qualified person responsible for the exploration programs. Altius has acquired an option to purchase a mining lease that is contiguous with the northern boundary of its Robert's Arm property. The lease is held by Energold Minerals of Toronto, Ont., and includes several VMS-style prospects. Previous work reported 3.9 per cent copper and 12.4 per cent zinc over 4.6 metres from a trench at the Bull Road showing. Diamond drilling in the area just north of current drilling returned 5.3 per cent copper over 4.4 metres, and a separate zone grading 4.5 per cent zinc and five grams per tonne gold over 5.2 metres at shallow depths. Altius can acquire the lease rights at any time within the next three years by making a payment to Energold of $400,000. In order to maintain this option, Altius must carry out exploration programs sufficient to hold the lease in good assessment standing with the government of Newfoundland and Labrador. Altius has been notified of an award of up to $100,000 in finances under Newfoundland's junior company exploration assistance program (JCEAP) to be applied against drilling at the Robert's Arm property. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com

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