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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Gold who wrote (19015)	9/20/1999 10:07:00 AM
From: Handshake™	Respond to of 25548

Monday September 20, 9:35 am Eastern Time Company Press Release Barramundi Gold Ltd.: Newmont Completes Initial $500,000 Financing and Longline Drilling Program Begins VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 20, 1999--Mr. Ewan Stoddart, Chairman, reports that Barramundi Gold Ltd.(Alberta Stock Exchange:BAM. - news; ``Barramundi') has received C$500,000 from a private placement of 1,666,667 units at 30 cents with Newmont Exploration of Canada Limited, a wholly owned subsidiary of Newmont Mining Corporation (NYSE;NEM) (``Newmont'). The placement, which is part of a financing agreement described in detail in a press release dated August 31, 1999, provides for an initial total investment of up to C$1,000,000 by Newmont . Barramundi's Longline Project is central to Newmont's interest in Barramundi. The Longline Project is located in the Yukon's Tintina Gold Belt, approximately 300 km south east of the Pogo Deposit in Alaska. The project area has a significant placer gold production history in addition to exhibiting similar geological settings to many of the large-scale intrusive related discoveries in the Tintina Gold Belt. Proceeds of the Newmont financing will be used primarily to drill test a large-scale coincident geochemical and geophysical anomaly identified at Longline by Barramundi. This anomaly has only recently been geologically interpreted and has not been previously drill tested. In August, 1999 Barramundi completed a field program including detailed 'grid-based' geochemistry and IP (induced polarisation) techniques to define the extent of the anomaly. The current project team, comprising Newmont and Barramundi geologists, has used this information to target a first phase of the Newmont financed diamond drilling. Drilling commenced early last week and the program is planned to initially comprise up to 3,000 m of diamond drilling to be carried out in September and October, 1999. The necessary drill rigs and drilling supplies have already been mobilized to the site. Results of the diamond drilling will be reported as they become available to the Company. The Longline project is of special industry interest because of its location, intrusive related nature, gold production history and the potential to host the next significant discovery in the Tintina gold belt. The Alberta Stock Exchange has neither approved or disapproved the contents of this release. -------------------------------------------------------------------------------- Contact: John Haley, CFO, 604/681-7136 604/681-7120 (FAX) johnh@barramundi.com or Ross Orr, CEF Investor Relations, Toronto, ON, 416/777-0001 416/777-1254 (FAX) borr@netcom.ca or Ewan Stoddart Chairman, 075/592-2766 075/592-2844 (FAX) stoddy@fan.net.au or Paul Ning Director, 075/577-3260 075/577-5830 (FAX) ning@ausinfo.com.au