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Gold/Mining/Energy : International Riley Resources (V.IRR)

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To: Carol who wrote (83)	8/26/1997 2:53:00 PM
From: Carol	of 136

Geez, I must be getting pretty lonely here. Started posting to myself..... To ALL: Some news I received, thought you might like to know........ Northpoint has had a lot of focus lately (Northpoint is part way through it drill program on its Hedley, BC property), but ITL and Riley are beginning to get active again with their NWT and Red Lake properties. Up until ITL acquired the Red Lake property last year, ITL and Riley were 'sister' companies in joint venture agreements on all their properties. Their trading patterns are still very similarly even though they are not quite as closely associated now. In the NWT, Dr. Stewart Blusson, president of Archon Minerals has finished the airborne surveys and is compiling and analyzing the data and will decide how to proceed (diamond drilling, etc.) within a week. Archon is financing the current program in the NWT on both the CJ (ITL/Riley) and DC (ITL/Riley/BMA) properties. Drilling will begin on ITL's property in Red Lake by next week. This is the second hole after the first 5000 foot hole that was drilled last year. One other company I thought I would mention is Cypress Minerals Corp. (CYP-VSE). It can be found at ninetyeight.com. Teck Exploration has begun a drill program (approx. 9000 feet) on the South Voisey's Bay property joint ventured with Donner Resources. Teck's budget for the entire South Voisey's Bay project is approximately $4 million.

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