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Gold/Mining/Energy : Sierra Nevada Gold - SDD.vse -- Ignore unavailable to you. Want to Upgrade?

To: rdww who wrote (51)	9/30/1999 2:54:00 PM
From: rdww	Read Replies (1) \| Respond to of 65

Sierra Nevada corrects previous news releases Sierra Nevada Gold Ltd SDD Shares issued 17,086,456 Sep 29 close $0.03 Thu 30 Sept 99 News Release Mr. John Stewart reports The news releases in Stockwatch Aug. 25, 1999, and Aug. 26, 1999, were incorrect. Jon Stewart remains fully committed to obtaining finances and joint ventures for the company, in this difficult metals market for exploration juniors. The news release in Stockwatch Aug. 25, 1999, regarding the status of the Gold Spot project in Arizona was also incorrect. Mr. Stewart is still in negotiations with the property owner of the Gold Spot and is still active in procuring funds for the exploration phase of the property. These actions are occurring as Gold stages a resurgence in the market. A review of some of the sampling as reported to date on Gold Spot is as follows: Width Au Ag Sample (ft) (oz/t) (g/t) GS No. 1 3.0 .629 12 GS No. 2 2.5 1.353 24 GS No. 5 3.0 4.236 23 GS No. 8 4.0 .231 11 GS No. 9 10 .218 9 GS No. 11 15 .002 3 Continuing work by the property owners in the form of VLF, mag + radiometric, gold sampling and assays suggests reinforcing the company's belief that the Gold Spot warrants further exploration. With regard to the Promontorio, active discussions are still continuing with a party interested in joint venturing the high-grade copper project in Mexico. The property has a preliminary resource calculation of over $95-million (U.S.) based on lower metal prices than the market currently employs. Mr. Stewart intends to move forward on these two ventures with the full understanding and support of the current board. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com