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Gold/Mining/Energy : Standard Mining, ( Formerly Quest International ) -- Ignore unavailable to you. Want to Upgrade?

To: Robert J Mullenbach who wrote (47)	7/18/1999 1:47:00 PM
From: Robert J Mullenbach	Read Replies (1) \| Respond to of 462

Damoti or bust, long term speculation. RENO, NEVADA--Quest International Resources Corporation announced today preliminary gold assay results from its 2.5 million dollar underground exploration program at the Damoti Lake project located in Northwest Territories, Canada. A decline has been completed in the Horseshoe Pyrite zone for a total length of 172 meters and the South Drift on the 275 meter level is complete. Work continues on the North Drift on the 275 meter level. Drifting on the 260 meter level is in progress. The drifts are designed to test gold grades and continuity of mineralization along strike in gold zones previously intersected by surface drilling. One meter samples have been collected and assayed from both walls and the face of the drift. Assay results indicate that the South Drift has a mineralized zone approximately 40 meters long by 3 to 4 meters wide. The significant continuous assay results in this zone, reported in ounces per ton gold from north to south, are as follows: /T/ 0.230 3.202 1.070 0.328 0.766 2.672 0.328 0.484 0.530 0.792 0.158 0.100 0.252 0.366 0.280 0.282 0.116 0.288 3.790 0.244 0.164 10.518 0.652 0.270 0.184 3.090 0.406 1.172 0.292 3.596 0.976 1.428 0.316 1.872 0.760 0.926 0.110 0.186 0.476 0.492 0.848 0.376 0.870 1.100 0.239 0.420 0.120 0.476 /T/ The same sampling procedures are being used in the North Drift. Although complete assay results are still pending, the significant assay results on a second mineralized zone, to date, are as follows: /T/ 0.188 2.241 6.374 1.498 0.294 0.802 0.844 0.476 /T/ Assay results are being verified by a second independent commercial analytical laboratory. Underground drilling is underway to test down dip extensions of the two mineralized zones. Don Gustafson, President of Quest International Resources Corp., says "the results, to date, establish continuity of significant ore grade gold values". L.D. Glogauer V.P. Corporate Communication -30- XXXXXXXXX 2 1/2 million invested, to open it up, if this ever turns around, they do have a good start to more forward. XXXXXXXXXXXX FEBRUARY 3, 1998 Quest International Moves Forward at Damoti Lake, Encouraging Drill Results, New Reserve Calculations, Funding Secured, Pre-Feasibility Contract Awarded RENO, NEVADA--Quest International Resources Corporation has completed the reserve calculations associated with the Fall 1997 drill program at its Damoti Lake property located in Canada's Northwest Territories. The recent drill program, which focused primarily on the main Horseshoe zone, was designed to advance ounces from the indicated category into the measured category and to provide the data necessary to restate the gold inventories in terms of proven and probable reserves. "By advancing these ounces we increase the value of this deposit," explained Rick Russell, Quest's Exploration Manager. "This is an important step in preparation for upcoming feasibility studies and ultimately putting Damoti into production." The results from the Fall 1997 program reinforce previous indications of mineralization at depth and Quest's belief that the Horseshoe zone is the primary target for the initiation of mining operations at Damoti Lake. The reserve calculations, which are limited to a narrow section of the Horseshoe zone, indicate a proven and probable reserve of 212,350 ounces of gold and an additional inferred resource of 148,178 ounces. When combined with the overall drill indicated geologic potential of 680,000 ounces of gold, Damoti has a potential of over a million ounces. "It is important to note that the proven and probable reserve figure is based on a relatively small, highly concentrated drill area," stated Mr. Russell. "The reserve calculation, which does not include the entire Horseshoe zone, provides critical data for the planned pre-feasibility study." The drill results continue to support the important concept that this deposit is open at depth and along strike. "This drill program has returned encouraging gold values that are consistent with previous results," stated Don Gustafson, president of Quest International. "They clearly indicate the presence of significant gold values at depth." Notable intercepts include: D97-307, 10.5 feet of 0.680 oz/ton Au at a depth of 348 feet; D97-311, 10.83 feet of 0.465 oz/ton Au at 800 feet; and numerous other intercepts at depths between 500 and 900 feet. A complete drill summary is available on Quest's web site or by sending a fax request to Quest