CELTIC MINERALS LTD A COMPANY TO WATCH SHORT AND LONG TERM Message Board

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Gold/Mining/Energy : CELTIC MINERALS LTD A COMPANY TO WATCH SHORT AND LONG TERM

CME 276.50

+1.9%

Nov 7 9:30 AM EST

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To: Handshake™ who wrote (635)	3/5/1998 10:35:00 PM
From: Sapper	Read Replies (1) of 744

Hi Vince - here is Tuesday's release: Drilling at Hungry Hill progressing on schedule Celtic Minerals Ltd CME Shares issued 14,645,135 Mar 2 close $0.25 Tue 3 Mar 98 News Release Also Jilbey Exploration Ltd (JLB) Mr David Graham reports The company's drilling program at its Hungry Hill base metal project in Central Newfoundland is progressing on schedule. A total of two holes have been completed to date. Core is presently being sampled and shipped to the lab for analysis. The program is anticipated to continue until at least April. Assay results are anticipated to be released by the end of March. Celtic is targeting untested areas along strike and down-dip from discovery hole No. 16 where 10.84 metres of 3.06% zinc, 20.9 g/t silver and 0.81 g/t gold were encountered during the December drilling program. Celtic's drilling is targeting world-class base metal deposits similar to the Buchans deposits of Central Newfoundland where over $4 billion of gross metal value were mined and to the Brunswick No. 12 mines in Northern New Brunswick operated by Noranda. Celtic's Voisey's Bay project has potential to lie on the western trend of mineralization found at Inco's Voisey's Bay deposits. The company continues to work on exploration options and is targeting an active program for the upcoming 1998 field season. The Dawson Gold deposit in Colorado hosts a drill indicated resource of 134,298 oz and has drill targets delineated and ready to be tested. It is a joint venture with Celtic (70%), and Uranerz USA Inc. (30%). Exploration and development initiatives are under review. Celtic's joint venture partner on its Hungry Hill and Voisey's Bay projects is Jilbey Exploration. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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