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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA

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To: Jesse who wrote (1948)	7/20/1999 8:09:00 AM
From: Jesse	Read Replies (1) of 2514

-News- ________________ MARUM RESOURCES INC. __________________ marumresources.com SEC 12g(3) Exemption 82-4100 ASE Trading Symbol "MMU" Standard & Poor's Corporate Manual Listing News Release - July 20, 1999 MARUM RESOURCES INC. (MMU - ASE) INTERNATIONAL TOWER HILL MINES LTD. (ITH - VSE) MICREX DEVELOPMENT CORP. (MIX - ASE) CHINCHAGA PROJECT UPDATE July 20, 1999 -- Marum Resources Inc., International Tower Hill Mines Ltd. and Micrex Development Corp. announce the initiation of preliminary discussions with several mining corporations regarding the exploration of the extensive metallic mineralization recently discovered in the Chinchaga area of northern Alberta. Due diligence evaluation of preliminary data, including field investigations, are scheduled for this summer. Current exploration strategy is to seek a senior joint venture partner to assist in the exploration of metallic minerals and to continue to explore the Chinchaga area for diamonds on their own accounts. Diamond and diamond indicator analysis on rejects from Chinchaga core samples submitted for metallic ICP analyses have not yielded any positive diamond or diamond indicator results. So far less than five percent of the diamond sample concentrates have been picked. Massive amounts of sulfide minerals remain in the large concentrate fraction and have complicated the picking process. Picking operations have been suspended due to the poor initial results and the fact that no further technical information is required to commence the summer sampling programs. The sulphide laden concentrates will kept available for metallic analysis by potential joint venture partners. Following the completion of the Chinchaga drill program in February and the evaluation of the drill core, a regional structural analysis was undertaken in order to identify optimal surface sampling locations for both diamond and metallic mineralization. The program has generated a large number of prospective locations. The samples will be taken along newly identified, thick expansion faults running for lengths of up to 50km within the Chinchaga property boundaries. At least six major expansion faults have been identified as being prospective for both diamond pipe targets and bedded targets for metallic concentration. A sampling program will commence following final sample location selection that is almost complete. Sample sizes will vary from small reconnaissance samples to large diamond samples For jig processing. Samples for metallic mineral analysis will be taken from each location. The Vancouver Stock Exchange and The Alberta Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of this release. _____________________________________________________________ Chinchaga Project Website mmu.simplenet.com _____________________________________________________________ ///===================================/// . . . . . . . . "..announce the initiation of preliminary discussions with several mining corporations regarding the exploration of the extensive metallic mineralization recently discovered in the Chinchaga area of northern Alberta." - - "..The samples will be taken along newly identified, thick expansion faults running for lengths of up to 50km within the Chinchaga property boundaries. At least six major expansion faults have been identified as being prospective for both diamond pipe targets and bedded targets for metallic concentration." "..Sample sizes will vary from small reconnaissance samples to large diamond samples for jig processing."

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