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Gold/Mining/Energy : X-CAL RESOURCES (TSE:XCL)
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To: MasterRichie who wrote (33)6/4/1998 4:55:00 PM
From: John Sladek   of 225
 
June 4, 1998: Blueprint for Development of Sleeper Gold District - Sleeper Gold Project, Humboldt
County, Nevada, USA

Shawn Kennedy, President of X-Cal Resources Ltd. announces that six months of negotiation
between X-Cal Resources Ltd. and Amax Gold Inc. have been completed. An essential
operating agreement that will govern the Sleeper Mining Company LLC has been signed by
both companies. The operating agreement consolidates all previous agreements between the
companies and sets out guidelines for the venture. All previous rights and options of
X-Cal are confirmed in the agreement. (See news releases dated Nov. 12/97 and Nov.
19/97.)

The combination of the new operating agreement and a pending report by X-Cal are a
blueprint for development of the Sleeper Gold District.

The scale and potential of the Sleeper Gold District are apparent in a report that is
scheduled for completion this week. The detailed and graphic paper describes the targets
at Sleeper by dividing the 22,000 acre district into six project domains, each with a
budget and specific work recommendations. The graphic portion contains air photos,
geochemistry, geophysics, geology and cross-sections. Preliminary budget totals are
estimated at US$8.5 million for resource development and exploration.

X-Cal Resources Ltd. is the operator of the project with the option to purchase 100
percent. Potential development partners are being considered.

TEL: (604) 662-8245 X-Cal Resources Ltd. FAX: (604) 688-7740 Shawn Kennedy, President
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