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Gold/Mining/Energy : Eaglecrest Explorations

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To: Scott Reynolds who wrote ()	8/24/1999 10:43:00 AM
From: K. Anders	Read Replies (1) of 639

"San Simon Drilling Underway" Eaglecrest Explorations Ltd. August 23, 1999 12G #82-603 NEWS RELEASE #99-15 EEL-VSE San Simon Drilling Underway ÿ Eaglecrest Explorations Ltd. reported today that diamond drill testing of an extensive stockwork system at the company?s San Simon project in northeastern Bolivia is now underway. The company said this initial program of a minimum 2500 metres will test a geologic model that suggests the San Simon project hosts structurally controlled gold mineralization extending over a district scale. Gold bearing veins in the stockwork system are believed to have been folded and rotated into sub horizontal positions creating ideal conditions for potentially low-cost, open pit mining. The company said several locations along three kilometres of mineralized trend will be tested in the current program with several holes in the general area of the 650 metre by 150 metre Paititi pit exploited since 1996 by artisanal miners. The stockwork is projected to be 80 ? 100 metres thick. Eaglecrest said its recently acquired gold-bearing conglomerate zones on the San Simon plateau will not be drill-tested at this time as the evaluation of the approximate 20 kilometres of conglomerate strike length has just begun. The company said two major gold producers have recently visited the project and site visits will resume when the current drill program is complete. Eaglecrest also reported that it has begun a program of collecting one to two tonne bulk samples for processing through a small, one-tonne per hour on-site mill. The company is attempting to determine the mill?s operating efficiency, or recovery factor, after which full sampling results will be reported. 30 ? ÿ On behalf of the Board of Directors, "Gary Cope" President ÿ ÿ For further information contact Investor Relations at (604) 684-9384, toll free 1-888-456-1112, email at <corpdev@mnxltd.com> or visit the company?s web site at manexresourcegroup.com ÿ The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release

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