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Gold/Mining/Energy : Columbia River Resources - CRVV on OTC NASDAQ
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To: keith schaefer who wrote ()10/14/1998 4:30:00 PM
From: keith schaefer   of 280
 
Columbia River Resources Inc. (OTC ticker symbol CRVV) is pleased to
announce the acquisition of four significant mineral properties located in
the “Powderhorn Lake area” of central Newfoundland. The Company has the
right to acquire a 100% interest in four separate properties totaling 371
claims covering 23,000 acres. These strategic properties are situated
immediately to the north, west, south and northeast of the new nickel
discovery that was recently announced by Canaco Resources Ltd. (MSE: CSE).
The Powderhorn Lake area is located beside the TransCanada Highway
approximately 25 miles north of the world-class Buchans Mine, which was a
significant producer of lead, zinc and copper for 50 years.

Canaco Resources Ltd. recently announced significant assay results from
surface and shallow drill testing of their property. Further, Canaco today
announced that major nickel mining company, Falcon Bridge has recently
signed a non-disclosure and will be conducting a site visit of the property
later this week. Several other major nickel mining companies have confirmed
they will be visiting this exciting new discovery in the coming weeks.

Columbia River Resources Inc. has entered into Letter Agreements with three
separate groups to acquire these four properties. It will have the right to
acquire 100% interest in these properties , subject only to a 3% NSR. Upon
completion of a thorough due diligence by the Company's technical staff,
and the approval of the Board of Directors, Columbia River Resources Inc.
will issue a total of 450,000 common shares in stages over the next twelve
months . The Company will also cover nominal staking costs and post bonds
for the annual assessment work required on each property until a work
program is developed.

The Company is very pleased to be involved in this exciting new mineral
area of Newfoundland and will keep our shareholders and the public apprised
of our progress.

ON BEHALF OF THE BOARD OF DIRECTORS

Robert R. Ferguson,
President
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