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Gold/Mining/Energy : Scorpion Minerals-SCP-T

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To: kodiaker who wrote (145)	1/20/1998 12:16:00 PM
From: Ronald W.Millar	Read Replies (1) of 235

Oilman: Heres some good news..! Scorpion Minerals Inc. Exciting New Prospect Verified on Sampanahan Block-Drilling to Commence on the Hapungu Vein System Prospect Business Wire - January 20, 1998 09:45 %SCORPION-MINERALS SCP. %NEW-YORK %MINING %METALS V%BW P%BW TORONTO--(BUSINESS WIRE)--Jan. 20, 1998--Scorpion Minerals (TSE:SCP.) Scorpion Minerals Inc. ("Scorpion") (TSE-SCP) is pleased to announce that ongoing exploration results from the Sampanahan Property have confirmed the discovery of a potential high grade vein system called the Hapungu Vein System prospect (see figure attached). Said Mr. Phil Petrie, Project Manager, "it is thought that a series of structurally controlled mineralized vein systems could be developed along a 2.5 km belt. Currently we have identified three sub parallel veins and shears 70 m apart with an indicated strike length of 200 - 250 m. It is possible that additional high or low grade veins and fissures may be developed between these veins". The veins are up to 5 m in width and characterized by outcrop samples of gossan and quartz sulphide assaying up to 110 g/t Au over individual 1 m rock chip samples. Gossan float samples have assayed over 200g/t Au. Drilling of the first of four planned holes at Hapungu commenced today. Selected significant anomalous results are provided in the table attached. Scorpion currently has 21,589,238 shares outstanding and cash of approximately $12.9 million. HAPUNGU VEIN SYSTEM PROSPECT Selected Sample Results Sample Type From To Length Silver Gold (m) (m) (m) g/t g/t -------------- ------ ---- ------- ------- ------ Channel Samples Channel A 2 3 1.0 6.0 19.9 3 4 1.0 12.0 2.9 4 5 1.0 35.0 2.7 5 6 1.0 93.0 13.3 6 7 1.0 178.0 25.0 7 8 1.0 101.0 109.0 8 8.5 0.5 74.0 110.0 Channel B 1 2 1.0 50.0 9.5 2 3 1.0 32.0 5.0 Channel C 2.5 3.5 1.0 31.0 13.7 (subcrop) 3.5 4.5 1.0 65.0 40.2 Rockchip Samples (Float and Outcrop) Sample 1 182.0 13.8 Sample 2 18.0 3.9 Sample 3 9.0 13.5 Sample 4 2.0 6.8 Sample 5 3.0 1.4 Sample 6 6.0 63.4 Sample 7 55.0 22.8 Sample 8 11.0 4.4 Sample 9 9.0 18.4 Sample 10 39.0 25.2 Sample 11 100.0 43.8 Sample 12 25.0 91.7 Sample 13 81.0 208.7 Sample 14 130.0 10.5 Sample 15 53.0 13.0 There is a map available by contacting the company at the number below or by accessing CCN's Internet Website at cdn-news.com. CONTACT: Scorpion Minerals Inc. Lynn Grogan, 416/777-6761 416/777-6764 (FAX)

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