TSE SYMBOL: PUG
OCTOBER 20, 1998
Pure Gold Acquires an Interest in the Cypango/Reclamation
ZL Claims/Southeast Lac de Gras, NWT
VANCOUVER, BRITISH COLUMBIA--Donald R. Sheldon, President of Pure
Gold Minerals Inc., is pleased to announce that the Company, in
continuing with its search for diamonds in the Slave region of the
Northwest Territories, has entered into an agreement with
Reclamation Management Limited, Cypango Ventures Ltd., and
Inukshuk Capital Ltd., whereby it can earn a 20 percent interest
in the ZL Claims situated approximately 80 kilometers
east-northeast of Winspears' Snap Lake area new diamond discovery
and within the Lac de Gras field of kimberlites.
Previous till sampling over the ZL Claims was successful in
locating a kimberlitic indicator mineral anomaly that appears to
be sourced from within the claim blocks. This heavy mineral
anomaly has never been traced to its source using detailed till
sampling.
Under the terms of an agreement, Pure Gold can initially earn a 20
percent interest in the ZL Claims by spending a total of $300,000.
Pure Gold's interest is subject to a regional Slave Joint
Venture, whereby Pure Gold (24 percent) and Ashton (76 percent)
have a general agreement covering the Slave Province. Ashton will
be informed of the venture and have the right to participate.
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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
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