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Gold/Mining/Energy : Minvita Enterprises Ltd. - MVE.v

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To: Chris W. Karch who wrote (13)	11/27/1996 2:25:00 PM
From: Darryl Kadonaga	of 56

Minvita Enterprises Ltd - MVE News Release - Clone drill results Shares issued 5,136,159 Nov 26 close $0.72 Tue 26 Nov 96 News Release Mr Dino Cremonese reports Assays have been received for the final 30 holes of the 1996 program on the Clone gold-cobalt property, 20km southeast of Stewart, BC. Diamond drill results for holes No. CL96-110 to CL96-126 are tabulated below. These holes targeted the H-1 zone in a continuation of the definition drilling of holes No. CL96-68 to 95. Enough holes have been drilled into the H-1 zone to provide for calculation of a preliminary mineral resource and an independent consultant will be engaged for this purpose over the winter. Drill From - To Width Co Au Hole (ft) (ft) (%) (opt) -------- ---------- ----- ----- ----- CL96-110 9.8-42.7 32.9 - 1.278 23.0-34.4 11.5 - 3.340 CL96-111 49.2-59.1 9.9 - 0.128 CL96-113 132.9-144.4 11.5 - 0.050 CL96-115 62.3-64.4 2.1 - 0.415 CL96-116 72.2-78.7 6.6 - 0.253 CL96-118 137.8-150.9 13.1 - 0.117 CL96-120 Abandoned CL96-121 239.5-255.9 16.4 0.054 - CL96-122 236.2-239.5 3.3 0.036 0.220 279.5-288.7 9.2 0.086 0.096 367.5-370.7 3.3 0.300 0.550 CL96-123 39.4-42.7 3.3 - 0.550 CL96-124 31.5-45.9 14.4 - 0.168 72.2-75.5 3.3 - 0.130 246.1-269.0 23.0 - 0.427 CL96-125 6.6-9.8 3.3 - 0.226 16.0-23.7 7.7 - 0.131 59.1-65.6 6.6 - 0.377 85.0-91.9 6.9 - 0.214 CL96-126 11.2-14.4 3.2 - 1.134 25.9-39.4 13.5 - 0.141 108.3-114.8 6.6 - 0.131 178.4-185.6 7.2 - 0.234 324.8-336.5 11.7 - 0.174 479.0-482.3 3.3 - 0.200 The latest suite of holes into the H-1 zone contained one of the best intercepts of the 1996 season. Located near the top of Hole No. CL96-110, this interval returned a weighted average grade of 1.278 oz/t gold over 32.8 feet with a true width of 23.2ft. Holes No. 124 to 126 also cut S-type zones in their upper portions, southwest of the deeper H-1 intersections. Holes No. CL96-96 to CL96-109 were drilled at varying dips and azimuths from two set-ups in the vicinity of trenches No. 93 and No. 205 and were designed to explore for depth extensions of gold-cobalt mineralization exposed by those trenches on surface. These holes returned anomalous to low-grade gold or gold-cobalt mineralization. The steepest hole on one section, CL96-100, returned 13.3ft intersection from 157.3 to 170.6ft grading 0.338 oz/t gold and 0.171% cobalt. Further drilling is planned in 1997 to follow-up this intersection. The companies are planning a large follow-up program in the 1997 field season. Full details of this program will await completion of a field report on the 1996 work. ************************************************** Chris, I will try to comment later after I further review the release. With the 11 feet hitting 3.34 opt gold, you were right about the 2.0+ opt intersect. Regards, DK

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