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Non-Tech : NP Energy (NPEC)
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To: Geoff Coates-Wynn who wrote (25)10/21/1997 10:06:00 AM
From: WHL  Read Replies (1) of 51
 
Company Press Release-Monday June 30 9:32 AM EDT

NP Energy Corporation issues the following update on the Chilean gold projects

VANCOUVER--(BUSINESS WIRE)--June 30, 1997--The following information is received from the Company's partner, Frontier International Resources Inc..

Frontier, through its wholly owned subsidiary, Sierra La Plata S.A., has agreed to sign a contract to acquire additional properties in the Andacollo mining district in Chile. The contract covers 5 titles to 17 properties with an area of about 700 hectares. These properties are in the vicinity of the La Colorada claims which are the current focus of work. Contracts for the purchase of a further 12 properties in the La Colorada area are expected to be completed shortly.

Finally Sierra La Plata announces that its law suit against Dayton Mining Corporation, to protect its rights under the newly acquired Churumata property lease agreement, has been adjudicated. Judgment has come down in favor of the property owner. The Churumata lease is no longer in jeopardy and therefor, the Company will not be required to pursue the matter further. Dayton attempted to gain access to their mine site via the surface rights of 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

------------------------------------------------------------------------
Contact:

Dave DiRicco at 415-261-9608
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