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Gold/Mining/Energy : Ballad Ent.;BDC.Vancouver

BDC 118.88

-0.7%

3:59 PM EST

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To: arizona_ice_tea who wrote (40)	5/15/1997 2:55:00 PM
From: arizona_ice_tea	of 107

BRAZIL EXPLORATION UPDATE - ANAUA CONCESSIONS Ballad Enterprises Ltd announces that a base line has been cut and a grid established on the Anaua concessions in northern Brazil. The grid extends four kilometers in length along a major regional structure with cross lines two kilometers long spaced every 100 meters. A geologist will now map the grid and supervise the collection of hand-drilled samples of the saprolites. The hand-held drill is capable of testing the saprolites to 100 meter depths and will be used to collect samples at 50 meter intervals along the grid lines. The grid covers an area previously mined by garimpeiros using hydraulic stripping and hand-panning techniques. Previous sampling of the saprolites has returned several gold values in excess of 2 g/t gold. The current program is designed to define the true extent of gold mineralization within the saprolites along the regional structure. Ballad also wishes to announce that it has received confirmation that five concessions totalling 3,800 hectares have been formally granted in Ballad's Arequipa Gold Project. The Arequipa Gold Project is located in Southern Peru. It totals 13 property areas covering approximately 9,900 hectares. Ballad agreed to acquire these five recently-granted concessions pursuant to an agreement with Dr. Alfonso Aguilar announced November 5, 1996. Vancouver Stock Exchange acceptance for filing of the Agreement is pending. Dr. Aguilar has agreed to transfer title to these five concessions to Ballad effective immediately. Ballad has also received notice of a possible claim by third parties to an interest in four other concessions which are to be acquired by Ballad from Dr. Aguilar pursuant to the Agreement. Ballad believes this claim is without merit. In the meantime, Dr. Aguilar has agreed to place any consideration to be received on the acquisition, following Vancouver Stock Exchange acceptance of the agreement, in trust at Ballad's direction. Exploration on the Arequipa Gold Project has been temporarily delayed due to access problems caused by road washouts. Exploration will resume following road repair which is expected before summer. BALLAD ENTERPRISES LTD. Per: "Rod Husband" Rod Husband, P. Geo., Director The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. ************************************************************** Ballad Enterprises Ltd. VSE - BDC Suite 606 - 700 West Pender Street 604-682-7159 Vancouver, BC, V6C 1G8 N.America : 1-888-880-2288 Roger Kelly, Investor Relations www.canvest.com/ballad/ Gold Exploration in South America ballad@express.ca Questions ? Investors? E-mail us. **************************************************************

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