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Gold/Mining/Energy : Abitibi Mining - V.ABB
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To: Peter Hausmann who wrote ()11/16/1996 10:38:00 AM
From: Essam Hamza   of 42
 
Abitibi Mining Corp - News Release

BC property acquisition

Abitibi Mining Corp ABB
Shares issued 15,837,293 Nov 14 close $0.42
Fri 15 Nov 96 News Release
Mr Victor Coulthard reports
The company has entered into an agreement with Cominco Ltd whereby Abitibi
can earn a 60% interest in the Clair-West property by incurring work
expenses totaling $500,000 over three years.
The Clair-West claims consist of 46 units 20km west of Kimberley, BC and
are contained within the company's Pyramid Peak claim group. These claims
are covered with overburden and straddle the St. Mary River valley bottom.
The claims host a very strong Sullivan equivalent UTEM geophysical anomaly
which has never been drill tested. The anomaly lies where the Sullivan time
horizon is projected to cross the valley. The Sullivan time horizon hosts
the huge $20 billion Sullivan orebody at Kimberley, BC. The adjoining
Pyramid-Peak property hosts strong lead-zinc showings with abundant
Sullivan type alteration and accessory minerals. Sullivan time remains
untested over the Pyramid-Peak. The Clair-West claims represent a
first-class as yet untested Sullivan target. Structural studies by Abitibi
Mining have indicated that this area has important similarities to the
Sullivan deposit at Kimberley, BC.
Permitting will be done this winter and a minimum of $90,000 worth of
drilling, geology and geophysics will be done on the Clair-West claims
beginning early this spring.
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