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Gold/Mining/Energy : GRAYD RESOURCES: GYD/VSE -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (54)	7/29/1999 11:35:00 PM
From: Steve Joy	Read Replies (1) \| Respond to of 58

Phase I Exploration Completed on the White Gold Trend, Rumble Creek Property Grayd Resource Corporation announces that the first phase of exploration has been completed on the White Gold Trend of its wholly-owned Rumble Creek property located in the Tintina Gold Belt, Alaska. White Gold is a prospective target for a structurally controlled, high-grade gold deposit. Gold bearing structures with alteration types commonly found associated with shear hosted gold deposits have been outlined. The Rumble Creek property was recently acquired from American Copper & Nickel Company, Inc. (ACNC) (news release 99-05, March 1, 1999). The White Gold Trend was discovered by ACNC geologists in 1994. Reconnaissance soil and rock samples taken intermittently over an 8 km-long zone returned anomalous gold, arsenic and antimony values. Only limited exploration has been conducted to-date. 1999 Exploration Highlights Low Showing (southern part of property) 26.4 g/t Au over 1.4 m from hand trench samples 13.3 g/t Au over 2.4 m from hand trench samples mineralization is open in both trenches beyond the trench walls 1.9 g/t Au over 2.8 m, approximately 50 metres to the northeast of Low Showing Hunter Showing (southwest part of trend) 1.3 g/t Au over 3.5 m from hand trench samples Flicka Showing (new showing discovered in central part of property) up to 2.2 g/t Au over 2.7 m from near-surface samples strong silicification observed over a width of 17 m Goldberg Saddle Area (northeast part of trend) up to 4.1 g/t Au in soil samples 1.3 to 8.4 g/t Au from grabs of subcrop from three 0.5 to 1 m deep pits dug over a distance of 9 m on a ridge 450 m to the southwest HD Area (central part of property) - 2,300 m Au-Sb-As soil anomaly previously outlined was extended to the southwest Previous Exploration Highlights 2,300 m Au-Sb-As soil anomaly on HD prospect 2.1 m chip sample averaging 7.2 g/t Au 4.5 m chip sample averaging 3.5 g/t Au and grab samples containing up to 20.2 g/t Au 15 m wide zone of silicified breccia; soils in area contain up to 1350 ppb gold; float grading 25.4 g/t Au found nearby In 1999 a four-man crew conducted exploration over a period of 8 days. Work included prospecting, geological mapping, soil and rock sampling, and hand trenching. Exploration confirmed gold mineralization over the 8 km-long trend, and outlined areas of high-grades over significant widths. Results show that gold is associated with northeast trending structures that have been traced for hundreds of metres. Structures have wide zones of silicification surrounded by quartz-sericite and carbonate alteration envelopes. The strength of structures and associated alteration indicate potential for a large gold deposit. A more detailed geochemical and rock sampling program, and a geophysical survey are warranted. Trenching by mechanical means or diamond drilling is required to further evaluate the high-grade areas delineated to-date. Teck/Sumitomo's Pogo deposit located 140 km north of White Gold highlights the potential for significant gold deposits in this part of Alaska. Discussions are underway with major mining companies who are interested in the high-grade gold potential of this area. Grayd also announces that exploration has commenced on its wholly-owned Dan-IC gold property. Dan-IC has had only limited exploration. The presence of gold associated with Cretaceous intrusions, widespread anomalous soil geochemistry and its location in active placer gold areas are positive exploration indicators. Previous Exploration Highlights 2.4 km long northeast trending zones with multiple gold in soil anomalies 4.3 m grading 6.7 g/t Au and 9.1 m grading 1.0 g/t Au over 9.1 m from bulldozer trench sampling The first phase of exploration on Dan-IC will include soil sampling, geological mapping, prospecting and hand trenching. Work will focus on identifying and prioritizing gold targets for follow-up drilling. GRAYD RESOURCE CORPORATION Signed: "John A. McCluskey" John A. McCluskey President