Free for all as quebec nickel-copper rush is on Message Board

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Gold/Mining/Energy : Free for all as quebec nickel-copper rush is on

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To: stak who wrote (127)	2/13/1997 11:27:00 AM
From: go4it	of 138

Hey ... guess what ...... Sept-iles lives ! NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: VIRGINIA GOLD MINES INC. ME SYMBOL: VIA FEBRUARY 13, 1997 Virginia Gold Mines - New Territory Acquisitions in the Area of the Discovery by the MRN in the Sept-Iles Region QUEBEC, QUEBEC--The syndicate formed of Virginia Gold Mines Inc. ("Virginia"), S.E.M. Vior Inc. ("Vior") and Exploration Azimut Inc. ("Azimut"), is pleased to announce the acquisition by staking of 179 claims covering 28 km2 within a territory centered about 20 kilometres south of the Lac Volant Cu-Ni-Co discovery by the Quebec Ministry of Natural Resources in the Sept-Iles area of Quebec, Canada. This territory of approximately 400 km2 has recently been the object of staking rush after the lifting of staking ban by the Quebec Government on January 8, 1997. Staking by the syndicate was mostly guided by the results of an airborne geophysical survey flown on its behalf by SIAL Geosciences Inc. following the reopening of the territory. Many electromagnetic and magnetic geophysical anomalies have been staked by the syndicate in geological contexts comparable to the Lac Volant discovery. Some of these anomalies are located in the vicinity of known Cu-Ni showings or are associated with Cu-Ni anomalies in lake sediments. These new acquisitions add to the impressive properties covering more than 1,800 claims 100 percent owned by the syndicate. The latter also owns 526 claims located closer to the Lac Volant showing and subject to an agreement with Kennecott Canada which can earn a 50 percent interest in return for 2 million $ in exploration work within the next three years. A line-cutting program was initiated in December and will be followed by ground geophysical surveys in March and April. /T/ Highlights Discovery of an economical zone on Auclair: 0.13 oz/t over 16.5 ft Drilling in progress on La Grande Sud and Auclair Virginia within a mining syndicate stakes over 2,000 claims in Sept-Iles and signs an agreement with Kennecott on a portion of the claims APQ awards Virginia the title of Prospector of the year 1996 Discovery of an important mineralized structure on La Grande Sud: the Wedding zone has returned values of 0.28 oz/t Au/13 ft including 0.49 oz/t /6ft (9.9 g/t Au/4 including 16.67 g/t Au/2m) Virginia Gold Mines One of the most important junior mining exploration companies in Quebec over 30 properties in Quebec covering over 4000 km2 of favourable geology Major Partners - Inmet and Denison - Kennecott - Noranda - Cominco - SOQUEM Facts on Virginia ME - VIA Exploration budget for 97 $5,000,000 (minimum) Working capital $16,000,000 no debt

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