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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who wrote (11526)	5/27/2003 11:30:17 AM
From: TrueScouse	of 39344

CBD PR.... Maybe if 3 million oz Au won't move the stock, the smell of diamonds might do it! ============================= CUMBERLAND INTERSECTS KIMBERLITE PIPE ON MELIADINE EAST PROPERTY CUMBERLAND RESOURCES LTD. (CBD-TSX) is pleased to announce that the initial drill hole of the 2003 diamond exploration program on the Meliadine East Project, Nunavut, has discovered the first kimberlite pipe in the region. The vertical drill hole tested the center of a roughly circular magnetic anomaly and intersected kimberlite from 14.6 metres to the termination depth of 100 metres. Dr. Peter LeCouteur*, Meliadine East project geologist, describes the drill core as kimberlite and breccia with a kimberlite matrix. The kimberlite and matrix are fine grained and dark gray and contain olivine as fine grains and macrocrystals. The breccia is composed of xenoliths of metasediments from the Archean Rankin Inlet Group. Dr. LeCouteur is a consulting geologist with extensive diamond exploration experience in Canada and South Africa. The 2003 drill program is designed to test eleven priority targets defined by previous airborne geophysical surveys and till samples collected in 2002. Till samples collected down-ice from the geophysical targets have yielded kimberlite indicator minerals, some of which are interpreted to have diamond associated compositions. The intent of the 2003 program is to drill each of the selected targets to a depth of approximately 100 metres. Further drilling will depend on results. The Company expects to complete this first phase program by mid June. The Meliadine East Project, located 20 kilometres north of Rankin Inlet, Nunavut, is a 50-50 Joint Venture with Comaplex Minerals Corp. Cumberland is the operator of the Joint Venture. Cumberland is well financed with approximately $17.5 million in working capital and is positioning itself to become a mid-tier level gold producer by advancing the Meadowbank project to production. Cumberland holds interests in two of the largest undeveloped gold projects in Canada: Meadowbank (100%) and Meliadine West (22% carried). CUMBERLAND RESOURCES LTD. __________________________________ “Kerry M. Curtis, B.Sc., P.Geo.” President and CEO

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