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Gold/Mining/Energy : Abitibi Mining - V.ABB

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To: Peter Hausmann who wrote ()	11/21/1996 7:33:00 PM
From: Essam Hamza	of 42

NEWS RELEASE - NOV.21 JOINT NEWS RELEASE November 21, 1996 Symbol: A B B -VSE #34-96 Symbol: S D N -VSE #28-96 EXPLORATION RESULTS =================== Abitibi Mining Corp. and Sedex Mining Corp. are pleased to announce encouraging results from recent work on the Tannahill Project and plans for follow up diamond drilling on the property. The Tannahill Project is situated approximately 15 km south of Barrick Gold Corporation's Holt-McDermott Mine, and Battle Mountain Canada Ltd. and Teddy Bear Valley Mines Limited Holloway Joint Venture (Lightning Zone). Backhoe stripping, mapping, prospecting, and diamond drilling have identified a new highly altered structure within mafic volcanic flows. The alteration includes pervasive carbonate, albite and quartz with associated disseminated sulphides up to 10%. Highly anomalous gold values have been encountered in the majority of grab and core samples from the alteration zone. Gold assay values as high as 141 gm/t (4.08 oz/t) have been encountered in narrow quartz veins within the alteration zone. Three shallow holes have intersected the zone to date. From the limited drill information, it appears that gold is distributed throughout the entire alteration zone, and not restricted to individual quartz veins. Results of the program are included in the following table: DDH # From To Width (m) gm/tonne T-96-1 5.70 6.30 0.60 6.27 6.30 7.30 1.00 3.15 7.30 7.85 0.55 2.30 7.85 8.50 0.65 1.41 Average 3.20 gm/t over 2.80 metres T-96-6 16.50 17.00 0.50 141.08(visible gold) 17.00 18.00 1.00 0.22 18.00 19.00 1.00 0.28 Not averaged due to visible gold T-96-6 29.00 30.00 1.00 2.22 30.00 31.03 1.03 1.31 31.03 32.00 0.97 4.97 Average 2.83 gm/t over 3.0 metres DDH # From To Width (m) gm/tonne T-96-8 56.50 57.50 1.00 1.37 57.50 58.50 1.00 1.54 58.50 59.50 1.00 1.47 59.50 60.50 1.00 0.99 60.50 61.50 1.00 6.45 61.50 62.50 1.00 0.10 62.50 63.50 1.00 0.53 63.50 64.50 1.00 1.31 64.50 65.50 1.00 1.68 65.50 66.50 1.00 1.99 66.50 67.50 1.00 2.05 Average 1.77 gm/t over 11 metres These results indicate the presence of a new gold bearing structure that will be methodically evaluated. The companies are encouraged by the fact that the deposits in this area contain similar alteration assemblages and more significantly develop into economically viable ore bodies below the 200 metre level. This initial drilling program has only been completed on one section and only down to the 50 metre level. The shallow low grade intersections to date may only be indicative of economic gold mineralization at depth. Linecutting, mapping and geophysics crews are currently conducting surveys on the property in order to better define the extent of the structure. Diamond drilling is anticipated to commence within two weeks, upon completion of the above mentioned work. On behalf of the Board of Directors, ABITIBI MINING CORP. SEDEX MINING CORP. "Victor G. Coulthard" Director

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