NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG

FOR:  VENGOLD INC.

TSE SYMBOL:  VEN
OTC Bulletin Board SYMBOL:  VENGF

APRIL 24, 2000

itemus and Caught in the Web Link Up

VANCOUVER, BRITISH COLUMBIA--itemus inc. (TSE:VEN, OTCBB:VENGF) 
announced today a $9-million investment in Toronto-based, 
privately held Caught in the Web, Inc., Canada's most acclaimed 
Web business builder.  itemus and Caught in the Web, also formed a
comprehensive strategic alliance to serve new and existing 
enterprises that seek to accelerate their growth via the Internet.
 The $9-million investment consists of a mix of cash and common 
shares in itemus. 

"This relationship constitutes a major milestone in itemus' 
strategic evolution," said Jim Tobin, itemus' chief executive.  
"We've said itemus will differentiate itself by providing deep 
operations expertise to our clients, whether investee companies or
bricks-and-mortar partners.  Caught in the Web brings a strong 
track record and proven intellectual properties to building online
businesses with an emphasis on operational excellence and 
long-term growth," Tobin explained. 

Caught in the Web, Inc. has a widely respected client base, 
including Microsoft Corporation, Kellogg's, Clarica, BMW Canada, 
and others.  It is also working with several promising "dot-com" 
start-ups in Canada and Silicon Valley.  Its strong management 
team, led by founders Bobby John and Aziz Hurzook, has won 
numerous international awards for Internet innovations and 
entrepreneurship. 

Recently, Pete Jones, former President of Apple Computer, Inc. 
(Canada) and Shared Network Services Corporation (SNS), joined the
company as President and CEO, with a mandate to accelerate Caught 
in the Web's expansion into the U.S. and abroad. itemus' 
investment will support and accelerate such expansion. 

"Caught in the Web, Inc. believes itemus is well on its way to 
becoming a unique accelerator of Internet businesses in Canada and
abroad," said Bobby John, Caught in the Web's co-founder.  "They 
have a world-class and experienced management team, extensive deal
flow, and broad network of relationships that complements ours 
very well." 

Given the private company status of Caught in the Web, Inc. 
further financial details surrounding the company and the 
transaction were not provided. 

itemus inc. is a New Economy corporation that creates 
revolutionary applications and business models for the Internet.  
Canadian based, but global in scope and scale, itemus participates
in all stages of the value creation process: early stage 
incubation, smart venture investment, converting bricks-and-mortar
to dot-com companies and unlocking the hidden value in public 
technology enterprises.  With development, hosting and business 
service infrastructure in several cities, itemus focuses on 
opportunities in next generation networking, financial 
intermediation for e-commerce and rich media. 

itemus inc. is the proposed name for Vengold Inc. and is subject 
to approval by shareholders at the Company's annual general 
meeting on April 26 in Toronto. 

Caught in the Web, Inc. is Canada's premier Internet business 
builder, with offices in Toronto and New York.  The company 
specializes in end-to-end online business solutions and is highly 
respected for its rapid time to market and creation of online 
competitive advantage for its clients.  Web site:  www.citw.com 

This news release may contain certain forward-looking statements 
that reflect the current views and/or expectations of itemus inc. 
with respect to its performance, business and future events.  
These statements involve risks and uncertainties that could affect
anticipated results. As such, results could differ significantly. 

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