PERUVIAN GOLD LIMITED
PRESS RELEASE
June 30, 1998
Annual General Meeting ("AGM")
At the Company's AGM held on June 23, 1998, Messrs David Henstridge, Nick
DeMare, Bob Atkinson and David Black were elected as directors.ÿ At a
directors meeting held subsequently to the AGM, Mr. Henstridge was
appointed President and C.E.O., Mr. DeMare was appointed Chief Financial
Officer and Mr. Harvey Lim was appointed Corporate Secretary.
The directors have approved management's recommendations to continue with
the budgeted drill programs at the Tingo and Lara porphyry copper prospects
and the Ollachea gold prospect, all located in Peru.
The Board unanimously agreed that management continue to pursue all
opportunities for new ventures that will enhance shareholder value.ÿ To
support these activities, the Company remains in a strong financial
position with cash reserves in excess of CND$ 11 million and is well
positioned to negotiate and acquire any business opportunity which would
meet management's business investment criteria.
Tingo
At Tingo, an initial seven hole reverse circulation drill program,
totalling 1037 metres, has been completed and all samples have been
submitted to the laboratory for analysis.ÿ Results are pending.
Options
The Company has granted director incentive stock options to purchase up to
an aggregate of 300,000 common shares in the capital stock of the Company,
exercisable for a period of three years ending June 30, 2001, at a price of
$0.81 per share.ÿ The above is subject to acceptance for filing by the
Vancouver Stock Exchange.
On behalf of the Board of Directors
David Henstridge
President
FOR MORE INFORMATION CONTACT OUR OFFICE AT 1 (604) 681 0110 / 1 (888) 215 5111
1705 - 750 West Pender Street, Vancouver, B.C., V6C 2T8 / fax: 1 (604) 682
2236 / e-mail:pvo@intergate.bc.ca / web site: www.peruviangold.com
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy of this release and the information
contained herein
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