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Gold/Mining/Energy : News that catches your eye

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To: Rocket Red who wrote (16)	5/21/1998 10:51:00 AM
From: Kent C.	Read Replies (1) of 148

News Release: Former DFR Project Geo Joins Gallery Resources For Immediate Release: May 21, 1998 GALLERY RESOURCES PLANS AGGRESSIVE EXPLORATION PROGRAM FOR HARP LAKE 2 PROJECT Mr. Bruce Costerd, President of Gallery Resources Ltd. (GYR: ASE) of Vancouver, B.C. is pleased to announce that work crews are being mobilized to the Harp Lake 2 project in central Labrador. An aggressive exploration program consisting of a two phase ground geophysics and diamond drilling program is planned at an estimated cost of $300,000. This program will focus on a strong geophysical anomaly containing surface showings of nickel and copper mineralization discovered in the fall of 1997. The area of interest initially outlined to measure approximately 100 x 250 meters is shown to be much larger as a result of independent research studies completed during the winter. The grid coverage is being expanded to cover an area measuring 1000 x 1500 meters and totaling 36 kilometers of grid lines. Ground geophysical surveys consisting of max-min (HLEM), VLF-EM and magnetic surveys will be carried out on the new grid commencing within the next two weeks. Mr. Costerd further reports that he is very pleased to announce that Mr. Mort Verbiski, who participated in the discovery of the rich Voisey's Bay nickel-copper-cobalt deposits, will be assisting project manager Victor French at the Harp Lake 2 project. Mr. Verbiski, who helped in directing the early exploration programs at Voisey's Bay, was largely involved with the extensive geophysical surveys carried out over the Voisey's Bay area. He has recently completed a review of the Harp Lake 2 geophysical results obtained last fall and has agreed to help direct further geophysical surveys. These surveys will cover an area where a strong Horizontal Loop Electromagnetic (HLEM) anomaly, detected during an earlier survey, was not explained by the 1997 drill program. The results of the geophysical surveys will be made available by mid June and these results will be used to direct a planned 1500 meter diamond drilling program. The drilling is scheduled to commence in late June utilizing a drill rig, which is presently operating on a nearby property. The first phase of the drill program is designed to consist of a minimum 8 holes drilled down to a depth of 250 meters. The objective is to carry out extensive drill testing of the strong HLEM anomaly and surface mineralization outlined last fall which extends outside of the area of the surveys completed to date. The company is very encouraged by the results obtained from the field work and independent interpretation reports completed to date and feel that the new and expanded geophysical surveys will add considerable information for directing this seasons drill program. Bruce E. Costerd President & C.E.O FOR MORE DETAILED INFORMATION ON THE COMPANY PLEASE SEE OUR WEBSITE: gallery-gold.com OR CONTACT INVESTOR RELATIONS; TOLL FREE CANADA & U.S.A 1-800-565-7350. The Alberta Stock Exchange has not reviewed and does not accept responsibility for the accuracy of this news release.

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