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Gold/Mining/Energy : GOLDEN RULE (tse:GNU)

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To: Sans Souci who wrote ()	2/26/1997 3:09:00 PM
From: Neil Irwin	of 957

Today's NEWS Release: (from isdnwire.com) GOLDEN RULES SUBSIDIARY WILL APPLY FOR A TEMPORARY CLOSURE PERMIT FOR THE KOMIS MINE 1997-02-26 CALGARY, ALBERTA Waddy Lake Resources Inc. ("Waddy Lake"), Golden Rule Resources Ltd.'s wholly owned subsidiary, will apply for a temporary closure permit for the Komis Mine. Waddy Lake had previously curtailed development work pending an analysis of 1996 operations. A revised ore reserve calculation and an assessment of the cost of developing these reserves in view of the fall in the gold price has significantly altered the economics of mining operations and reserve development. It is anticipated that underground operations will continue until approximately the end of March with milling operations continuing until June. The Company has received expressions of interest from potential purchasers and will endeavour to find a buyer for the mine as an operating concern. ___________(signed) GLEN H. HARPER PRESIDENT

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