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Gold/Mining/Energy : Barramundi Gold

BAM 54.08

+0.3%

2:13 PM EST

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To: zebity who wrote (15)	2/25/1999 11:23:00 AM
From: Ross Orr	Read Replies (1) of 99

Press release out today on company's plans for the upcoming season. Our firm, CEF, has been retained to provide Investor Relations and capital raising assistance. After a week of meetings and presentations to mining analysts and mining companies in Toronto we decided to put out an update for the company and their plans going forward. The results of the IP survey conducted late last summer provided some very interesting data that has caused the company to shelve their planned bulk sample until next summer. It was felt that the anomaly which appeared as a result of the IP survey was something that could not wait until next year. The feeling is that this could be the "engine" that percolates the gold upwards to the high grade quartz veins at surface. This would lead us to believe that we are looking at a structure that has similar characteristics to the Pogo discover made by Teck/Sumitomo in eastern Alaska which is 10 million tons @ .52 oz/t and is open in 3 directions. A nice "area play" is developing along the Tintina fault which to-date has produced numerous multi-million ounce discoveries. BAM is probably one of the most advanced juniors on the fault and has a nice fallback position in that they can mine next summer which would provide a healthy cash flow. A drilling program will commence mid-May and should provide an interesting and closely followed program over the summer months. I can be reached at 416-777-0001 or by e-mail at borr@netcom.ca if anyone needs additional information or would like to be put on the company's distribution list. Ross Orr

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