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Gold/Mining/Energy : Lyon Lake Mines Ltd

LLL 245.17

-0.4%

Jun 28 5:00 PM EST

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To: Karl Zetmeir who wrote (405)	7/9/1998 12:04:00 PM
From: Mike Paulin	Read Replies (1) of 520

Lyon Lake Mines temporarily suspends ore extraction activities at its Beta Vargas Mine ------------------------------------------------------------ Lyon Lake Mines Ltd. announces that ore extraction activities at its Beta Vargas mine in Costa Rica have been suspended. The main reason for this suspension is the weak gold market. However, heap leaching activities at the mine are ongoing. The expertise acquired during the start-up period showed that it would be economically beneficial to increase the production rate of the Beta Vargas mine. Lyon Lake Mines plans to build a second leach pad in order to double production capacity and benefit from economies of scale. The second pad would enable the Company to produce at a rate of 20,000 to 30,000 ounces per year. The Company recently completed 2,500 metres of reverse circulation drilling in the prolific Guaitilar East area of the Canamazo concession. The drill results will be released as soon as they become available. To see last year's drill and trenching results on Guaitilar East, go to lyonlakemines.com FOR MORE INFORMATION : Guy Hebert, President Francois Kalos, Manager, Corporate Affairs Tel. : (514) 641-0775 Fax. : (514) 641-1601 Email : lyonlake@lyonlakemines.com Roger Desloges, Vice-president, Corporate Affairs Tel. : (416) 368-5115 Fax. : (416) 925-7881 ------------------------------------------------------------ This message was sent to you on your demand by Lyon Lake Mines. If you want to be removed from this list, please use the online form at the following address: lyonlakemines.com

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