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Non-Tech : NP Energy (NPEC)
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To: Geoff Coates-Wynn who wrote (22)6/25/1997 2:47:00 PM
From: Geoff Coates-Wynn   of 51
 
Monday June 16 9:01 AM EDT

Company Press Release

NP Energy makes announcement

VANCOUVER--(BUSINESS WIRE)--June 16, 1997--NP Energy Corporation is
issues the following update on the Chilean copper and gold projects. NP Energy
Corporation holds a 20% interest in the Andacollo gold properties and a 20% interest
in the Copiapo (Mina Claudia) copper project. Company geologists have estimated
the potential for the Andacollo to be in excess of 3 million tonnes of gold ore in the
manto structures and in excess of 3 million tonnes in the high grade zones. In the
Copiapo properties projections are for a potential in excess of 50 million tonnes of
copper ore. The following information is received from the Company's partner,
Frontier
International Resources Inc.:
Frontier, through its wholly owned subsidiary, Sierra La Plat S.A., has signed a lease
agreement on the Churumata property in the Andacollo mining district in Chile. The
agreement covers the site where construction is partially finished on a mill and test
facility. On the Company's other properties in Andacollo, Company
geologist Michael Sandidge of Phoenix Arizona has been sampling and testing
gold ore zones to define drill targets and potential ore reserves. Assay results have not
been made available as yet and will not be until the completion of Sandidge's reports.
From the known data such as previous drill results, mining activities and current assay
results, Mr. Sandidge has concluded that the acquisition of several additional
properties in our area is advisable. He has targeted 12 properties as having high
potential. Mr. Sandidge initiated negotiations several weeks ago and has been
successful to date. Several
additional acquisitions are expected to be completed shortly. Frontier further reports
that all contractual obligations to the properties are current. Finally Sierra La Plata
announces that it has initiated a law suit against Dayton Mining Corporation in order to
protect its rights under the newly acquired Churumata property lease agreement.
Dayton is attempting to gain access to their mine site by annexing the surface rights to
the Churumata property. Lawyers for the
Company inform us that under Chilean law, the rights of the lessors and the lease
contract are to be preserved.
On behalf of the board of directors

Per: Larry Regis Jr., President
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