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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: Richard Humphrey who wrote (2633)9/6/1998 1:13:00 PM
From: Lilian Debray  Read Replies (1) of 5206
 
1998 Drill Program

The Company is very encouraged by the interesting exploration results obtained at the Fort a la Corne Diamond Project to date and consequently, plans to participate in a follow-up drilling program during 1998. Discussions on the 1998 program are in progress. In general, this significant program comprised of several large diameter RCA drill holes will be designed to further evaluate a selected number of diamondiferous kimberlite bodies which are considered to often contain more than 100 million tonnes of kimberlite each and have the greatest economic potential on the basis of the current data. Details of the 1998 budget and associated exploration program will be announced after they have been finalized by the Joint Venture Partners.

The Fort a la Corne Project is a joint venture between Kensington Resources Ltd., Uranerz Exploration and Mining Limited (operator), Cameco Exploration, and Monopros Limited, a wholly owned subsidiary of DeBeers. As at 31 December 1997, each of Cameco, Monopros, and the Company have a 30% interest. Uranerz has a 10% carried interest.

To date, the Company has funded exploration totaling $3,644,241 on the Fort a la Corne Project.

Kensington Resources Ltd.
Quaterly Report for the three months ended June 30, 1998
Sent out on August 31.
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