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Gold/Mining/Energy : GIC

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To: Bruce Patterson who wrote (24)	3/5/1997 12:57:00 PM
From: Bruce Patterson	of 57

Latest report on PUG and ACA 11 kimberlites discovered at Buffalo Hills Pure Gold Resources Inc PUG Shares issued 88,106,667 Mar 3 close $0.38 Tue 4 Mar 97 News Release See Ashton Mining of Canada Inc (ACA) News Release Mr John Auston reports An additional four kimberlites have been discovered on the Buffalo Hills property in Alberta, bringing to 11 the total number of pipes found by Ashton in its winter drilling program. All 11 kimberlites are interpreted to represent separate pipes. Detailed below in chronological order of discovery are the target numbers, together with the geophysical anomaly dimensions and the depth of glacial overburden: Kimberlite Geophysical Anomaly Depth of Number Dimensions Overburden K7B 200 x 350 metres 34.7 metresx K7C 150 x 150 metres 37.0 metresx K14 300 x 200 metres 7.0 metresx K7A 200 x 200 metres 69.0 metresx K6 450 x 600 metres 13.0 metresx K5A 600 x 600 metres 14.3 metresx K5B 150 x 450 metres 50.3 metresx K4A 250 x 300 metres 24.7 metresx K4B 350 x 400 metres 8.5 metres K4C 200 x 250 metres 43.9 metres K2 200 x 500 metres 2.0 metres x Holes reported previously The dimensions of the geophysical anomalies are a fair approximation of the outline of the magnetic portion of the pipes, but would not include any non-magnetic portions which may be present. Ten of the kimberlites were discovered through the drilling of 10 geophysical anomalies. Elsewhere on the property while preparing access and drill sites for summer operations a bulldozer unearthed kimberlite under two metres of glacial clays on anomaly K2. Drilling to date has been concentrated on a single cluster of targets within an area of 100 sq km (38 square miles). Due to permit and logistical considerations no further drilling is anticipated in the winter program. Ashton is scheduling a summer drilling program which will include the drilling of new geophysical targets together with further evaluation of the kimberlites discovered to date. Numerous anomalies with signatures similar to those already drilled remain to be tested. Ashton is also currently preparing to re-survey the original 1.4 million acre Buffalo Hills option property to a more detailed flight line specification. Other geophysical surveys are also being considered for the adjoining 4.4 million acre joint venture properties. In Vancouver detailed logging of core from the first pipes has indicated that the majority is volcaniclastic crater facies kimberlite. This suggests that glacial erosion of these pipes has been minimal and that most of the pipes' original dimensions have been preserved. Processing and analytical evaluation of the core has commenced. This work will focus initially on determination of the diamond prospectivity of the pipes through classical analytical techniques together with nickel thermometry. This will be followed by microdiamond analyses by caustic fusion. A complete set of petrological and analytical results from all kimberlites recently drilled is not anticipated for several months. Ashton Mining and Pure Gold Resources have an option agreement with a large Alberta energy company whereby Pure Gold and Ashton have the right to earn interests of 15% and 42.5% respectively in the Buffalo Hills property. Ashton is operator of the program. Total landholdings, including option and joint venture lands, comprise 5.8 million acres in north central Alberta.

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