LATITUDE MINERALS CORP.
SUITE 612, 475 HOWE STREET, VANCOUVER, BC. V6C 2B3
Tel: (604) 688-2010; Fax: (604) 688-2015; Toll-free: 1 800 668-0071
e-mail: mineral@mineweb.com
trading symbol: LTU.V
KILGORE ACQUISITION APPROVED
VANCOUVER, BC, October 27, 1998: Latitude Minerals Corp. (LTU.V) has received approval from the Vancouver Stock Exchange for the acquisition of up to a 98% interest in the Kilgore Gold Deposit in north east Idaho from Echo Bay Mines.
The Kilgore Gold Deposit is a 700,000 ounce gold resource of which 417,000 ounces are minable. Recently, Latitude conducted a six-hole drill programme at Kilgore to test a new discovery zone identified by Echo Bay in late 1996. Drill hole 178 intersected 100 metres (326 feet) of gold mineralization in a new area 4,000 feet west of the main Kilgore Deposit. The new discovery area underlies a one square mile sinter blanket. Assay results from the recent drill programme are expected within ten days. This new target area is just one of approximately 15 as yet untested targets on the Kilgore property.
As part of the consideration for the acquisition, the Company has issued at total of 220,000 common shares to the vendors of the property including 20,000 common shares as a finders fee. The shares are subject to pooling restrictions until February 29, 1999.
On Behalf of the Board of Directors,
LATITUDE MINERALS CORP.
"John R. Carden"
John R. Carden
President
THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN |
