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Gold/Mining/Energy : MONETA PORCUPINE ME.t

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To: Bannick who wrote (426)	9/26/1998 11:10:00 PM
From: D LEE	of 440

September 8, 1998 Trading Symbols ME TORONTO STOCK EXCHANGE ME BERLIN STOCK EXCHANGE MOP FRANKFURT STOCK EXCHANGE MONETA - AGREEMENT WITH CAMECO GOLD Moneta Porcupine Mines Inc. ("Moneta") announces it has entered into an Agreement with Cameco Gold Inc. ("Cameco") whereby Cameco can earn a 60% interest in Moneta's Kayorum Property. Terms of the Agreement, provide for Cameco to make cash payments totalling $100,000 to Moneta over three years and to spend $1.5 million exploring the Property. The Kayorum Property in Timmins is south of the Hollinger Mine (19.4 million ounces) and adjacent to the Aunor (2.5 million ounces) and Delnite Mines (0.92 million ounces) of Royal Oak Mines, and is due west of Placer Dome's Dome Mine (13.4+ million ounces). It is a large (6 sq. km.) land package of which a part is relatively unexplored. In late September Cameco will commence an exploration program that includes diamond drilling. Moneta is a long-established junior mining company with extensive gold and base metal properties in the prolific Porcupine Camp and an integrated industrial mineral project with significant reserves in Idaho, U.S.A. FOR FURTHER INFORMATION PLEASE CONTACT: INTERNET HOME PAGE: monetaporcupine.com Moneta Porcupine Mines Inc. Rod Whyte (Chairman) Fran Yungwirth (CEO) London, England 011 44 171 736-2212 Timmins, Ontario (705) 264-2296

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