To: Spiney who wrote (204 ) 8/22/2000 8:28:15 PM From: bcjt Respond to of 231 AUGUST 22, 2000 - 11:38 EDT Big Valley Resources Inc.: Agreement For The Purchase of The QR Mine Completed WILLIAMS LAKE, BRITISH COLUMBIA--Lloyd Tattersall, President of Big Valley Resources Inc. (the "Company") is pleased to announce that the Company has signed an agreement with Dean Mason, CA. and 568674 British Columbia Ltd. and related companies of Prince George, British Columbia, regarding the purchase of the QR Mine (the "Mine") and other assets. The Mine is located in central British Columbia, Canada and adjoins the Company's claims on its northern boundary. The Mine was owned and operated at a rate of 1000 tonnes per day, from May, 1995 to April, 1998, by Kinross Gold Corporation ("Kinross") and produced 128,391 ounces of gold. 568674 British Columbia Ltd. and related companies recently acquired the Mine and its assets from Kinross and have agreed to sell the Mine and the assets to the Company. The purchase price of $4.5 million dollars is payable over three years, commencing January 1, 2001 together with interest at prime plus 1%, and the issuance of 6,176,470 shares of the Company. The Company and its Financiers have agreed to raise a further $5 million dollars to invest into the project to facilitate working capital, exploration and bonding. In order to expedite the transition from a junior exploration company to an operating mining company, the Company will appoint a new Chief Executive Officer and Chief Financial Officer with international experience. To accommodate this, the current Chief Executive Officer/President, Lloyd Tattersall and Chief Financial Officer, Egil Livgard, have agreed to step down as Officers and Directors of the Company but will continue to give their valuable expertise as consultants to the Company. In addition, John Enns has agreed to rejoin the Board. The acquisition of the Mine and its assets is subject to the acceptance of the CDNX. ON BEHALF OF THE BOARD Lloyd Tattersall, President -30- FOR FURTHER INFORMATION PLEASE CONTACT: Big Valley Resources Inc. Mr. Lloyd Tattersall President (250) 243-2279 Website: www.bigvalleyres.com or Big Valley Resources Inc. Mr. John Enns (604) 824-2122 The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.