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Gold/Mining/Energy : Twin Mining (formerly Twin-Gold)
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To: _gaia who wrote (489)5/30/2002 12:58:58 PM
From: VAUGHN  Read Replies (1) of 613
 
Thanks Gaia

Off The Wire

Thursday May 30, 8:33 am Eastern Time
Press Release
SOURCE: Twin Mining Corporation

Twin Mining Board Approves Phase 1 of $10 Million Exploration Budget
TORONTO, May 30 /CNW/ - Twin Mining Corporation ("Twin Mining") (TWG - TSX) is pleased to announce that its Board of Directors has approved Phase I of a $10 million budget to further explore the Jackson Inlet diamond property.
Phase 1 (Can.$1.7million) is to complete ground magnetometer surveys, soil sampling, gravity and core drilling on 12 anomalies previously identified by airborne magnetometer survey. In addition, Twin Mining plans further tests on the Freightrain pipe where previous mini-bulk samples recovered more than 50 carats of high quality diamonds. Earlier sampling has only covered 1/2% of the total surface area of the Freightrain pipe.

Mr. Dallas W. Davis, P.Eng. of Dalmin Corporation is Twin Mining's "Qualified Person" for all geological aspects as defined by National Instrument 43-101.

Twin Mining, in addition to exploring the Jackson Inlet diamond project on Baffin Island and the TORNGAT diamond project on the east side of Ungava Bay in northern Québec, also holds a gold mining project in Idaho, United States of America.

Regards

Vaughn
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