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Gold/Mining/Energy : News that catches your eye

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To: zebity who wrote (86)	8/25/1998 1:15:00 PM
From: Kent C.	Read Replies (1) of 148

MASSIVE SULPHIDES AT GALLERY'S HARP LAKE 2 PROJECT Trading Symbol "GYR" - ASE For Immediate Release: August 25, 1998 Massive Sulphides at Gallery's Harp Lake 2 Project Gallery Resources Limited (GYR:ASE) announces that semi-massive to massive sulphide mineralization has been discovered on it's Harp Lake 2 property in central Labrador. Samples from several surface showings returned strong enrichments in nickel, cobalt and copper. Assays of 5 chip samples collected to August 14, 1998 have yielded consistent values ranging from 0.42% to 0.70% nickel, 0.084% to 0.151% cobalt and 0.34% to 0.42% copper, with 3 samples containing more than 0.53% nickel and 0.10% cobalt. The cobalt values are comparable to the grades obtained at Voisey's Bay. Project manager, Victor French advises that the sulphides assayed to date are exposed in several zones up to 20 feet in length and 1.2 feet in width and occur over an area measuring 150 feet wide along an east-west strike length of 500 feet. He states that there is good potential for expanding the extent of the surface showings. Since the initial discovery prospecting crews have identified a strong gossan zone measuring 60 feet by 250 feet flanking the surface showings. Also, late last week a new massive sulphide showing was discovered 800 feet North of the main area outlined to date. Work crews are intensifying prospecting efforts in the area and are also establishing a detailed grid over which ground geophysics surveys will be carried out. Mr. French cites several reasons why this new discovery can be considered as being significant. The mineralization is trending towards a strong max-min anomaly located 6000 feet west. Also according to Newfoundland and Labrador Department of Mines published records for the Harp Lake Intrusive Complex there is no reference to massive sulphide mineralized zones and the highest nickel assay recorded from earlier work programs over the complex is 0.32%. The discovery is located on a strong east-west structural lineament along which diamond drilling will commence this week to test the max-min anomaly. Mr. French advises the company that samples from the newest massive sulphide showing and gossan zone have been shipped for assaying and expects the results later this week. He says that the Harp Lake camp is very busy with these new discoveries and the arrival of the drill crews for the start of the planned drilling program. [signed] Bruce E. Costerd President & CEO FOR MORE DETAILED INFORMATION ABOUT THE COMPANY PLEASE SEE OUR WEBSITE: gallery-gold.com OR CONTACT INVESTOR RELATIONS; TOLL FREE CANADA & U.S.A. 1-800-565-7350 NEITHER THE ALBERTA STOCK EXCHANGE NOR ANY OTHER REGULATORY BODY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.

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