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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

GPGI 23.57

-2.9%

Jan 30 9:30 AM EST

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To: Robert Weiss who wrote (1282)	12/11/1996 9:53:00 PM
From: Peter H. Hodge	of 14226

Here's the update: Global Platinum + Gold, Inc. Announcement from Richard E. Jensen, President of GPGI ------------------------------------------------------------------------ NEWS RELEASE: 9 December 1996 Global Platinum Acquires The Oro Grande Mining Property Richard E. Jensen, President and CEO of Global Platinum + Gold, Inc. today announced that the Company has acquired the Oro Grande Mine north of Wickenburg, Arizona for cash and stock. The property consists of 150 acres of patented land containing 3 gold mines with the main shaft down to 400 feet. Global also has access to 1,000 acres of adjoining land. The escrow will be closed shortly after January 1, 1997. The Oro Grande mining area could be the source of the platinum group metals found in the area according to a preliminary assessment of the precious metal potential in a report made for International Nickle about 6 years ago. Because of the metallic gold and platinum found in the Oro Grande ores, the Company feels that the Oro Grande reserves will add significantly to the total reserves contained in the Weaver Creek and the Hassayampa properties. Global has developed a method of treating its anode sludge so that its concentrate sent to any refinery will enable that refinery to obtain maximum results. Global itself has been very successful in recovering precious metals by using standard refining methods thereby giving the Company a much broader range of market availability. Global is now contemplating going into full scale refining on its own. Global Platinum + Gold, Inc. is traded on the OTC Bulletin Board under the symbol "GPGI". The Company is presently engaged in the extraction and refining of precious metals from its Hassayampa stockpile. For up-to-date information contact Mike Pokorny at 1-888-606-3636 On Behalf of the Board of Directors Richard E. Jensen President and Chief Executive Officer

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