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Gold/Mining/Energy : Pure Gold Minerals (PUG)-TSE -- Ignore unavailable to you. Want to Upgrade?

To: louie who wrote (985)	9/30/1999 10:38:00 AM
From: Brian Warner	Read Replies (1) \| Respond to of 1030

Pure Gold Finds New Kimberlite in Nunavut VANCOUVER, BRITISH COLUMBIA--Pure Gold Minerals Inc. (PUG:TSE) (Pure Gold) is pleased to report on the 1999 summer program in Nunavut and the discovery of a new kimberlite on the Ric property, approximately 250 kilometers northwest of the Ekati Mine in the Northwest Territories. Field investigation of anomalous 1998 sample results on the Ric property has led to the discovery of the new kimberlite, named Hydra. The body outcrops on a lakeshore and probably extends under the lake. Petrological studies have defined the rock as a hypabyssal kimberlite. Numerous unexplained indicator mineral anomalies are present in the area and a helicopter-borne aeromagnetic survey has just been completed in search of additional kimberlites. Material from the Hydra kimberlite will be processed and analyzed for microdiamonds at the Ashton laboratory in North Vancouver. If the airborne survey identifies magnetic targets or the results of the microdiamond test are favorable, a drill program will be planned for the coming winter. During the 1999 summer field work, heavy mineral sampling programs were completed on the Ric, Roc, Bel and Con properties. Several encouraging concentrations of indicator minerals which warrant further investigation have been detected. Ashton's Nunavut properties consist of four separate claim blocks totaling 79,000 hectares (195,000 acres) and are held under the Slave joint venture between Ashton (ACA.TSE/Me) and Pure Gold (PUG.TSE). Ashton's interest in the joint venture has increased from 76 percent at the beginning of 1998 to 81.8 percent, as a result of its sole funding of programs up to June of this year. Pure Gold will maintain an 18.2 percent interest by continuing to fund the ongoing exploration. Ashton is the operator of all of the joint venture's programs. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Pure Gold Minerals Inc. Donald R. Sheldon President (604) 687-2038 (604) 687-3141 (FAX) Website: www.pugres.com fin-info.com