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Gold/Mining/Energy : Mongolia Gold Resources
MGR 20.95+0.2%12:53 PM EST

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To: Phil Jones who wrote (1783)1/29/1998 8:20:00 PM
From: Rick McDougall  Read Replies (1) of 4066
 
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Attention Business Editors:

GMD RESOURCE CORP. ANNOUNCES CHANGE OF MANAGEMENT

VANCOUVER, Jan. 29 /CNW/ - The Company wishes to announce that due to the
resignations of Don Farrell, Garvin McMinn, Visco Jutronich and Paul Brownlee
as directors of the Company effective January 29, 1998 the Board of Directors
is now composed of:

Dr. David Webb - director since August 18, 1995.
Gilbert Dalton - director since November 16, 1996.
Gerry Hess - director since August 21, 1996.

Dr. Webb has consented to act as President of the Company and Linda
Dezura has consented to act as Corporate Secretary, both on an interim basis
until a new President and Corporate Secretary are appointed.
The Company has assembled a committee to seek out experienced persons in
the mining industry and financial sector as new directors and senior
management of the Company.

On Behalf of the Board
GMD Resource Corp.

DR. DAVID WEBB
PRESIDENT
-0- 01/29/98

For further information: Dr. David Webb, President, (604) 662-3350, or Toll Free 1-800-808-3350, or Fax: (604) 685-9141, or Web Site www.gmd-res.com
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