PLATINUM PALLADIUM UPDATE / Claim Map
LATITUDE MINERALS CORP.
1711 E. TRENT AVE., SPOKANE WA 99202
Tel. 416.762.8995 Fax: (509) 536-6442
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PLATINUM PALLADIUM UPDATE / Claim Map
Spokane Washington, May 2, 2000. Latitude Minerals Corporation (LTU.CDNX)
The Company's recently announced Platinum Palladium property, Tonsina, in Alaska represents a significant opportunity for Latitude Minerals to expand its portfolio into strategic precious metals that have strong underlying market fundamentals. Through an agreement with WGM Inc., Latitude can earn up to an 85% interest in the property, with first right of refusal for WGMûs remaining 15%. The Tonsina Property is a PGE prospect located NE of Valdez, Alaska, about 9 miles off the Richardson Highway. The 6.9 square mile property consists of 3 large, layered, PGE-enriched massifs, that comprise from west to east, Bernard Mountain, Sheep Hill, and a portion of Dust Mountain. Total strike length of the target area is in excess of 10 miles. To view map visit the company website latitudeminerals.com
Sheep Hill and Bernard Mountain both have geology similar to that found at Dust Mountain, where layered chromite, dunite and pyroxenite exist. Geophysical evidence indicates that all three massifs are part of the same mineralized ultramafic complex.
Latitude Minerals and WGM Inc. will jointly conduct exploration at Tonsina. As mentioned in Latitudeûs press release dated April 12, 2000 values of surface rock samples collected from Dust Mountain assay up to 0.347 oz/T Pd and 0.260 oz/T Pt, with 10 samples averaging over 2 g/tonne (0.06 oz/T). In order to begin fieldwork on June 1, 2000, the company must secure financing to fulfill its obligation to WGM Inc. The Company has signed confidentiality agreements with several majors and is currently considering a joint venture partnership or a standard project financing via private placement.
Tonsina is a high-quality, exploration property with world-class discovery potential that represents a first step for Latitude to expand its portfolio into strategic minerals and other precious minerals in addition to gold. Platinum and Palladium are vital and essential components in the production of fuel cells and automotive catalytic converters. New, stricter emission standards in Europe, Japan and the US are about to come into effect and a further tightening of the emission control laws will take place in 2005. This should have a significant effect on world demand. Palladium is also in high demand in another rapidly expanding market, the electronics industry, where it is used in high tolerance capacitors. The supply/demand pressures in these areas create an exciting and potentially highly profitable opportunity for mineral exploration companies that are able to move swiftly into the Platinum-Palladium Group (PGE) elements.
Latitude Minerals Corp. is a junior exploration company engaged in exploring and developing a number of advanced-stage gold deposits in the Western United States. While the principal focus of Latitude is precious metals, the company is also evaluating a number of opportunities that fall within the corporate view of advancing into PGE and other strategic metals.
Additional information:
Investor Relations (416) 762-8995
latitudeminerals.com
info@latitudeminerals.com
WARNING: The company relies upon litigation protection for "forward-looking" statements.
On Behalf of the Board of Directors,
Latitude Minerals Corporation.
John R. Carden,
President
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