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Gold/Mining/Energy : ECHARTERS

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To: Keith Utz who wrote (2547)	4/15/1998 1:36:00 PM
From: E. Charters	Read Replies (1) of 3744

hmmmmmm yas..yas...looks damned interesting..yas...that is 98 feet of 1.89 ounces per short ton. hmmmmm....yas... "Mario Szotlender, Director of Balaclava Mines Inc., is pleased to announce the Company has completed an initial trenching program on the El Corazon project in Ecuador. The objective of the trenching was to confirm high grade mineralization previously intercepted by RTZ Mining and Exploration Limited. approximately 150 metres of trenching have been completed in the Tres X Zone. Previous trenching in the zone by RTZ returned the following significant high grade intercepts: Tres X Zone Gramalote Trench - 30 metres @ 65.0g/t Au (350m N of Tres X Drill Zone) Yucal Trench - 59.9 metres @ 40.1g/t Au (200m NNE of Tres X Drill Zone) The above intercepts identify high grade structures within a mineralized host rock covering an area of 1,100 metres x 600m and which includes the Tres X Drill Zone. Drilling by RTZ in the lower grade host rock returned values up to 67.0 metres @ 2.57g/t Au. (Please refer to the Company's news release of February 28, 1998.) The Company has resampled the Gramalote and Yucal Trenches and extended the high grade mineralization. Preliminary assays have been received and are currently being verified. Work at Gramalote and Yucal is ongoing to confirm the orientation of these high grade structures. A drill program will commence upon completion of surface work to test the high grade and bulk tonnage potential of the Tres X Zone. Simon Ridgway has been appointed President of Balaclava, replacing Alan Carter who will remain as a Director."

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