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Gold/Mining/Energy : Zenda Capital Corp.

TRR 17.55

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Jul 5 5:00 PM EST

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From: E. Charters	11/23/2004 11:54:39 PM
	of 217

Kirkland Lake Exploration Program still Producing Strong --------------------------------------------------------------------- Results. -------- * KGI continues to come up with good results on previously unexplored ground * The company targets new areas of main break, parallel structures north and south of main break, and north-south structures. ed's note -- north south structures are something new found and not previously mined in the camp. * KGI has just completed an 8 hole surface main-break program. * 5 holes had low values and three had significant mineralization. * They also hit the south break in this program. * The succesful south break holes are the first such good holes in camp history west of the Teck Hughes diabase dyke. * hole 4-23 cut 1.02 ounces over 8.4 feet. * this program confirms good main break mineralization above the 2000 foot level. * The company plans more such main break drilling from the 2475 level underground. * A south break hole returned 2.39 ounces over 1 foot at 900 foot depth. * The south break is now confirmed 2000 feet west of the Lake Shore and Teck-Hughes properties. Lakeshore mined 2 million ounces of gold on this break, but no other production is recorded west of there. ed's note: This is significant in terms of potential. * 12 more holes are planned on this property to test the south break on 400 foot centres. Fill-in will be at 200 feet. ed's note: This is wide. They are exploring with big step-outs. * KGI says that these holes so far on the south break may correlate with a recent hole of 26.21 ounces per ton 5,000 feet west. (ed's note. This kind of correlation sounds a bit wide, but it is possible in the lateral-running KL camp. If it does pan out that alone would a major resource.) * Carmichael said, "This large unexplored area with a strike length of 1500 feet and open to depth, has the potential to host significant quantity of ore, and as such it is one of the company's largest targets on the main break. The company is pleased that we have intersected significant mineralization on the south break for the first time west of the Teck-Hughes diabase dyke. We hope to outline a large area of mineralization with a surface drilling program which will eventually be followed by an underground program to define resources and reserves." ****************************

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