PACIFIC BAY MINERALS, LTD-More than its name, No Pac-Rim! Message Board

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Gold/Mining/Energy : PACIFIC BAY MINERALS, LTD-More than its name, No Pac-Rim!

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Jan 9 9:30 AM EST

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To: mark warburton who wrote (167)	1/14/1999 2:15:00 PM
From: Chuca Marsh	Read Replies (1) of 176

POGO! Half Ounce Per Ton Areas! New Claims and North to Alaska: January 13, 1999 FOR IMMEDIATE RELEASE "POGO" AREA GOLD PROPERTY ACQUIRED, ALASKA David H. Brett, President, reports that Pacific Bay Minerals has acquired 122 mineral claims and four prospecting licences in the Fairbanks Mining district, Alaska, in the vicinity of the Pogo gold discovery. The purchase price is US$45,000 and 100,000 common shares of Pacific Bay, with a 3% NSR in favour of the vendor (NSR purchasable at US$1 million per percent). The transaction is subject to the approval of the Vancouver Stock Exchange. The Property covers ground believed to be geologically favourable for the discovery of gold mineralization similar to the POGO discovery to the north (Teck Corp.-Sumitomo). Recent estimates of the POGO discovery indicate a 10 million-ton deposit grading 0.52 opt gold, containing some 5.2 million ounces. The Pacific Bay claims, located in the Tanacross Quadrangle Southeast of Fairbanks Alaska, cover a number of Placer gold deposits occurring near an intrusive contact within Palaeozoic meta-sedimentary rocks of the Tanana Terrain. The area has not been covered with glaciers in the past, which means that deposits of alluvial gold are more likely to be derived from local rocks. Random rock samples taken by the vendor during staking contain anomalous gold values in quartzite and quartz-breccias. An exploration program is planned for the summer of 1999. Pacific Bay Minerals Ltd. Per/ David H. Brett President top of page pacific-bay.com Also, go to TNM at northernminer.com And reasearch ( if a subscribber ) some POGO names ...TECH and SUMITOMO but also, Kincross ( spelling?) and many others with claims up there!

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