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Gold/Mining/Energy : Eaglecrest Explorations

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To: Dave Robinson who wrote (33)	10/17/1996 4:11:00 PM
From: David Rowe	of 639

TO ALL OCT 17 NEWS RELEASE JUST RECEIVED BY EMAIL FOR YOUR INFORMATION From: Eaglecrest Explorations <eaglecrest@pop.mindlink.net> Subject: Fall Drilling Program Begins X-UIDL: 23c8206d2f190bb3f60f1e04c2cd4ed8 Trading Symbol VSE: EEL 12g # 82-603 October 17, 1996 NEWS RELEASE Exploration Update EAGLECREST EXPLORATIONS LTD's. 100% optioned San Simon gold project located in northeastern Bolivia has begun its fall exploration and drilling program at the Trinidad Zone. The access road and construction of drill pads for the fall exploration program have been completed. Geological and geophysical data is progressing to further define future drill locations for the continuation of the drilling program in known areas of mineralization. The potential strike length of the Trinidad Zone has been traced on surface to be approximately 1000 meters, and is open to length. The six completed drill holes have explored 200 meters of this strike length and surfical mapping has outlined the system to be up to 200 meters in thickness. Geophysical interpretation indicates that the system dips gently to the south. The Trinidad system contains an abundance of specularite along fracture as infillings. Within this specularite, areas are noted to contain fine visible gold. Mineralization in the hanging and footwall (the two sides of the fault zone) of the veins consists of disseminated (fine gold particles widely scattered throughout the host rock) to wispy specularite as fracture infillings. 200 meters to the south of the Trinidad Zone, a parallel anomaly has been identified by geophysical survey and occurs in an area of laterite cover. Recent trenching in the South Zone indicates that this zone could be associated with the Trinidad Zone. Further trenching will continue to better define drill targets for the fall drilling program in this zone. Assay testwork at N. A. Degerstrom metallurgical labs in Spokane, Washington with the previously submitted 12 drill cores indicate that a whole core single fire assay method will provide Eaglecrest with an accurate measurement of gold content. This procedure will expedite the turn-around time for future sample results Concurrently geochemical surveys will be conducted at the Moxos concession to further define future exploration and drilling targets in this area. This will expand Eaglecrest's knowledge of other areas of mineralization at the San Simon Gold discovery. Management and company geologists are confident that Eaglecrest will be able to deliver an initial drill inferred reserve calculation in the near term. On behalf of the Board of Directors Victor Lahmer, President

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