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Gold/Mining/Energy : Consolidated Magna Ventures (CMV.V)

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To: jerry janko who wrote (347)	10/26/1999 8:35:00 PM
From: jerry janko	Read Replies (1) of 380

Consolidated Magna Ventures Ltd CMV Shares issued 21,484,464 Oct 25 close $0.07 Tue 26 Oct 99 News Release See Firesteel Resources Inc (FTR) News Release Mr. David DuPre reports Firesteel Resources Inc. has released further results (which were obtained during previous sampling programs) from the Reyna de Oro property that was recently optioned from Consolidated Magna Ventures. This past-producer is situated in western Chihuahua state, Mexico, and was formerly part of the Mexican mining reserve. The property comprises 1,467 hectares and lies 29 kilometres west of Batopilas and 21 kilometres southwest of Urique, and is accessible by road. It is situated 18 kilometres west-northwest of Francisco Gold's El Sauzal gold deposit, which has a reported resource of 23.5 million tonnes at a grade of 2.98 grams per tonne of gold. The Reyna de Oro property displays many geological features that are similar to those at El Sauzal. The Reyna de Oro property hosts a significant epithermal gold-copper prospect that has been delineated over a strike length of at least 400 metres. Regional faults and porous volcanic units control the mineralization and alteration. Although there are several adits, development work has not been significant and production figures are not available. Previous, small-scale mining was directed toward exploitation of high-grade structurally controlled mineralization. Most of the gold mineralization appears to be associated with zones of silicification and patches of strong iron-manganese staining. Five previous surface and underground sampling programs confirm the significance of this prospect. Some of these results from three of the campaigns are below: ANALYTICAL RESULTS FROM PREVIOUS SAMPLING CAMPAIGNS Sample Width Au Cu Locality Type m g/t % Cuse Surface chip 42 2.33 0.41 Cuse Nuevo Adit chip 63 3.16 0.18 Cuse Vieio Adit chip 45 2.41 0.20 Vicente Surface chip 57 4.53 0.28 Upper Vicente Adit chip 25.8 6.54 0.21 Lower Vicente Adit chip 10 1.25 0.21 Vicente Road cut chip 60 3.41 0.18 Upper Cuse Surface chip 26 2.12 Marino/ Silverio Surface chip 62 2.99 Tahonas Surface chip 35 1.12 Vicente Surface 10.95 6.87 chip Vicente Surface chip 18 1.61 Cuse Surface chip 16.4 0.95 Silverio Surface chip 13.3 1.28 The Cuse zone is at the south-eastern end of the known mineralized zone. Mineralization is reported from 400 metres to the southwest of Cuse. The Vicente adit is situated 100 metres northwest of the Cuse zone. The Tahonas area is at the northwestern end of the zone defined to date -- 250 metres from the Vicente adit. Mineralization and alteration has been identified up to one kilometre further to the west. A complete due diligence review of the legal and tenure issues should be finished within two weeks. The company has set a director's stock option to acquire up to 100,000 shares at 10 cents per share.

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