News Release No. 220
January 31, 2000
NEWS RELEASE
Royce Group Diamond Project, NWT Update
GMD Resource Corp. (the "Company") has received an information update on the Royce Group Diamond Property situated 150 km north northwest of Yellowknife, NWT from Monopros Limited, the operator of the property, who may earn a 51% interest in the property by incurring not less than $16,000,000 in four sequential programs by April 30, 2004.
Monopros advises that kimberlite indicator results from the 1,148 glacial till samples that were collected between July and September, 1999 are expected to be received on/or before mid February, 2000. Upon review of the sample results an airborne (helicopter) geophysical survey of approximately 4,000 line kilometres will be conducted on selected higher priority targets, as well as on ground lacking existing coverage. Following a review of the geophysical data in conjunction with the indicator chemistry results, a winter diamond drill program will be scheduled. Based on overall results Phase Two will commence with a summer glacial till sampling program.
The camp at Spirit Lake, situated in the center of the Royce Group, has been prepared for the scheduled winter program. The Phase One program which began with the glacial till sampling in July, 1999 is scheduled to be completed by April 30, 2000 at an aggregate cost of approximately $1,500,000.
For further information please contact Investor Relations at (604) 669-6619 or 1-800-808-3350.
GMD RESOURCE CORP.
"Rodney N. Duncan"
Rodney N. Duncan
President
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