Date: 1998, October, 01 1:57 PM
Subject: Hot Off The Wire: PURE GOLD MINERALS INC.
>===================================================================
>Canadian Corporate News --- Hot Off The Wire
>News Release for PURE GOLD MINERALS INC.
>===================================================================
>
>-------------------------------------------------------------------
>E*TRADE Canada introduces another exclusive!
>Pay NO COMMISSIONS on over 600 mutual funds
>For more information visit us at:
>http://www2.cdn-news.com/scripts/etrade/trade.pl
>-------------------------------------------------------------------
>
>NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
>
>FOR: PURE GOLD MINERALS INC.
>
>TSE SYMBOL: PUG
>
>OCTOBER 1, 1998
>
>Pure Gold Minerals: Edmonton Exploration Update
>
>VANCOUVER, BRITISH COLUMBIA--Donald R. Sheldon, President of Pure
>Gold Minerals Inc., is pleased to announce confirmation of a
>highly anomalous till sample RNR11 from the Villeneuve area
>northwest of Edmonton, which yielded 102 pyropes, 9 chrome
>diopsides, and 231 chromites from a 70 kg start weight.
>
>The first stage of follow-up of that anomaly consisted of
>collecting and processing 19 till samples to the northeast of the
>anomalous sample, in the anticipated up-ice direction. Most of
>those follow-up samples were between 15 and 30 km to the northeast
>of RNR11, in part as a result of gaps in till cover that occur in
>the Villeneuve area, where glacial lake sediment buries till to
>many tens of meters. The follow-up samples yielded no samples
>that were similarly prolific to RNR11, suggesting that an up-ice
>cut-off has been established within Pure Gold Minerals Ltd.'s
>Edmonton block.
>
>Given the apparent establishment of an up-ice cut-off, we now
>intend to follow-up the anomaly with another 15 samples within 3
>km of the original sample site, and to initiate a detailed
>airborne geophysical survey over the area covered by glacial lake
>sediments. This airborne survey will use the advanced Hummingbird
>magnetic and electromagnetic system built by Geotech Ltd. in a 38
>by 14 km grid with 100 m line spacing.
>
>After evaluating the Red Deer, Medicine Hat and portions of the
>Big Valley Claim Groups, the Company has decided not to spend
>additional money on these areas and has agreed with its joint
>venture partner Reclamation Management Ltd. ("RMLL"), that RMLL
>can participate as to a 25 percent interest in the Edmonton Block
>by funding 25 percent of all future exploration expenditures.
>
>-30-
>
>FOR FURTHER INFORMATION PLEASE CONTACT:
>
>Pure Gold Minerals Inc.
>Donald R. Sheldon
>President
>(604) 682-1240
>or
>Pure Gold Minerals Inc.
>Carina Bittel
>Shareholder Information
>(604) 682-1240 |
