September 28, 1998 Hand Trenching Results From Las Catalinas Symbol: MAD.V
Form 20F: 0–27760
The Company wishes to announce that while waiting on permits it has completed several hand-dug trenches and conducted additional mapping and sampling to extend the studied area on its Las Catalinas project in Sonora State, Mexico.
Miranda has put in 40 hand-dug trenches which on average went to less than one metre deep. Many did not hit bedrock as soil cover was too deep. However, of those that did hit bedrock, the following provides a synopsis:
Area Number Length (metres) Gold (g /tonne) Silver (g /tonne)
Barda 2 10.5 0.93 50
3 12.5 0.30 20
4 3.0 0.78 9
Jed 3 3.0 1.75 45
6 3.0 1.17 23
Las Catalinas 1 6.0 0.72 15
2 6.0 0.86 6
Chaos 1 18 1.10 13
or 1 includes 3 5.33 22
3 1.5 2.18 low silver
6 1.5 1.83 low silver
9 4.5 0.53 3.5
Amethyst 4 1.5 0.70 low silver
7 10.5 0.35 7
Miranda has found gold in all areas trenched and continues to be impressed by the widespread mineralization occurring in structurally and genetically related environments.
Previously, Miranda completed a first phase exploration program during February and March, 1998 consisting of detailed geological mapping, soil and rock sampling, and a magnetometer survey. The geologic environment has been mapped as an intrusive complex composed of granodiorite, porphyritic quartz monzonite, latite porphyry and intrusive breccias. Numerous grab and channel samples returned values of up to 30 grams gold per tonne and over 500 grams silver per tonne. The program identified four discrete zones of mineralization on the Las Catalinas concession. Three of the targets have bulk tonnage potential and the fourth area has potential to host a high-grade vein structure. The most recent work has expanded the number of targets to ten.
In summary, most of the soil anomalies have been verified by trenching and many have found at least narrow intercepts of potentially economic grades of precious metals. The project has the potential to contain small and large precious metal deposits.
Miranda is currently in the permit process for a planned mechanical trenching and reverse-circulation drill program.
The Las Catalinas project is 100% owned by the Company's subsidiary, Minas Miranda S.A. de C.V.
ON BEHALF OF THE BOARD
"Dennis L. Higgs"
Dennis L. Higgs, B. Comm
President
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