RIO Nevada Mines Corporation Message Board

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Gold/Mining/Energy : RIO Nevada Mines Corporation

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To: BARON BANKER who wrote ()	3/18/1997 9:44:00 AM
From: BARON BANKER	of 38

PRESS RELEASE O&G RELATED RIO Nevada Mines Corporation PRESS RELEASE ASE SYMBOL - RN March 18, 1997 OPERATORSHIP AND PROPERTY UPDATE RIO Nevada Mines Corporation is pleased to announce becoming both the field and facilities operator of its main oil producing property located at Norbuck Lake (Township 46, Range 4 West 5th Meridian) in Central Alberta effective March 1, 1997. The field is comprised of 13 wells, 2 satellite facilities, related pipelines and a 1200 barrel a day Oil Battery - Treating Facility. RIO has working interests in wells varying between 24.5 to 60.75 percent and a 36.25 percent interest in the battery facilities. The company has an extensive workover program scheduled for the 2nd Quarter of 1997 designed to increase field productivity in addition to maximizing 1000 BBLS a day of available oil battery treating capacity through third party processing efforts. Bissett Resource Consultants Ltd. have been contracted to provide engineering services to both field and facilities operations. RIO is also pleased to report that the company is developing a budget and schedule of exploration activity on its "Gould-Whitestone" diamond prospect situated along the Hinton-Nordegg Trend in Northwestern Alberta and expects to release details by April 1997. RIO Nevada is an Alberta based corporation engaged in the exploration, development and acquisition of resource based properties. For further information contact: David J. Badyk, President of RIO Nevada Mines @ 263-6312/ 888-660-7770 Voice-Mail THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN

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