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Gold/Mining/Energy : Weda Bay Minerals Inc
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To: Roberth who wrote ()3/11/1997 11:06:00 PM
From: Andrew G.   of 98
 
It appears that current trading is due either to pure speculation or insider knowledge leaking out (which would not be a good thing). The check assays have not been reported to the best of my knowledge.
Can anyone offer any further info?

VANCOUVER, Mar. 10 /CNW/ - Weda Bay Minerals Inc. (The ``Company'') is
exploring for nickel and cobalt laterites on Halmahera Island in the Republic
of Indonesia. The Company issued a news release on February 17, 1997 in
which it reported that it had drilled three separate areas of laterite and had
intersected encouraging grades of nickel and cobalt. The release contained a
plan showing the extensive areas of laterites that had been mapped by the
Company's geologists. The release further explained that the programme to
explore the remaining more extensive areas of mapped laterite at the Sake
River, Lipe River, Jira River and Tarzan Hill Prospects required access
preparation prior to drilling. The exploration programme had been hindered by
equipment breakdown.

At this time, the Company is unaware of any additional material information
other than that reported in the February 17 release. Weda Bay is continuing
its exploration programme and the additional laterite areas drilled are
geologically similar to those previously reported. Final assays are expected
in early April for the recently drilled areas. Check assays have been
dispatched to two independent laboratories for confirmation of preliminary
results. Once complete assay results and check assays are available, the
Company will immediately issue a further news release announcing those
results.

The Company continues to be optimistic about its exploration efforts on
Halmahera.

By Order of the Board

WEDA RAY MINERALS INC.

--------------------------

LOUIS A. CLINTON, PRESIDENT

The Alberta Stock Exchange has neither approved or disapproved the
information contained herein.

For further information: Suzanne Wood, Director, (604) 687-6991 Fax: (604)
684-0342
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