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Non-Tech : NP Energy (NPEC)

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To: Geoff Coates-Wynn who wrote (9)	12/3/1996 10:20:00 AM
From: Geoff Coates-Wynn	of 51

NEWS RELEASE -- Sorry for the delay. NP ENERGY CORPORATION COMPLETES GOLD ACQUISITION LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Dec. 2, 1996--NP Energy Corporation is pleased to announce that the company has acquired a 20% interest in several gold properties in Chile. The properties represent about 4 square kilometers of mining rights in the Andacollo mining camp in Northern Chile and contain a mixture of proven reserves, mineralized manto and vein system structures and untested potential ground. Grab samples taken by geologist Malcolm Fraser representing only a small area on the properties, assayed from 2.43 to 4.94 grams of gold per metric tonne. Drilled reserve grades vary from 1.2 to 1.45 grams of gold per metric tonne on numerous reserve blocks varying in size from 500,000 to 1,400,000 metric tonnes. A large portion of the area acquired includes the northerly extensions of the three known gold bearing manto structures which form part of the reserve mineralization of the Dayton and Canada Tungsten properties. The Andacolla camp has been producing gold continuously for over 150 years from a remarkable series of veins and manto structures. Recent mining development includes Dayton Mining Corporation's Tres Perlas open pit at 15,000 metric tonnes per day on a copper gold porphyry structure and Canada Tungsten developing gold manto structures nearby. The properties have been acquired through an associated company which is the Chilean incorporated operator for all of NP Energy Corporation's interests in Chile. Development, exploration and production programs will begin in early January. FOR FURTHER INFORMATION CONTACT: Investor Relations - 415/261-9608 On behalf of the board of directors Per: Larry Regis Jr., President

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