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Gold/Mining/Energy : amcan minerals
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To: Diamonds Are Forever who wrote (68)11/1/1998 12:16:00 AM
From: paulo  Read Replies (1) of 71
 


Date: October 27, 1998 AMF - VSE AMFLF - OTC B.B.

TORONTO - The Board of Directors of AmCan Minerals Limited is pleased to
announce that the Ministry of Mineral Resources of Sierra Leone has granted
the company a new exploration licence, No. Expl. 4 1998, which covers
blocks 51 and 51A along with kimberlite pipe No. 3 and all of the
surrounding dykes. The total land area is considerable and covers an area
of approximately 20.7 sq. km or 8.00 sq. miles. Kimberlite pipe No. 3 is
the smallest and eastern-most of the three kimberlite pipes discovered to
date in the Kono District. The pipe has a measured surface area of 0.5
acres and is located in a valley into which two streams flow. The
surrounding dykes are extensive and cover a distance of 27 miles in length,
the widest of which is eight metres. The dykes are easily accessible,
relatively inexpensive to mine, and operations could commence quickly.

Amcan, through its subsidiary Siera Gold Limited, has a 90% interest in a
30 sq. mile gold property on the Pampana River in the Tonkalili District of
Central Sierra Leone. This highly prospective property is situated in the
middle of the Sula Mountain Archean Greenstone Belt. Archean Greenstone
Belts are generally recognized as favourable environments for hosting
primary gold mineralization. The exploration licence for this property has
also been renewed for three years.

[signed]
E. Allan McCaffrey
Vice-President, Public Relations

Further Information on Request
Contact: E. Allan McCaffrey
Vice President - Public Relations
1 800-893-1188 * PHONE: 416-214-6296 * FAX: 416-214-6299

This news release has been prepared by management of the company who takes
full responsibility to its contents. The Vancouver Stock Exchange has
neither approved nor disapproved this information.
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