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Gold/Mining/Energy : CUMBERLAND RESOURCES (CBD) -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (153)	10/27/1999 5:36:00 AM
From: Sam	Respond to of 393

Add this to their 100% owned property with 21/2 million oz and this thing is away undervalued in my opinion sam ------------------------------------------------------------------- E*TRADE Canada Don't make your investment decisions site unseen. Sign-up for a free trial membership: www2.cdn-news.com Someday we'll all invest this way. ------------------------------------------------------------------- NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: CUMBERLAND RESOURCES LTD. TSE SYMBOL: CBD OCTOBER 26, 1999 Cumberland Resources Announces Meliadine West Gold Project, Drilling Confirms Deposit Continuity VANCOUVER, BRITISH COLUMBIA--Cumberland Resources Ltd. (CBD-TSE) (the "Company") announces that it has received all of the results from the 1999 diamond drilling program on the Tiriganiaq deposit on the Meliadine West gold project. The Meliadine West project covers approximately one-half of a 70 km long gold trend located 15 km north of the community of Rankin Inlet, Nunavut. The property is held 56% by WMC International Ltd. (WMC), 22% by Cumberland and 22% by Comaplex Minerals Corp. WMC is the operator and finances all expenditures on the project. Confidence continues to improve at Tiriganiaq Prior to this year's drill program, the Meliadine West project contained a combined inferred resource estimated by WMC at 6.5 million oz. (23.7 million tonnes at a grade of 8.5 gpT uncut, using a cut-off grade of 3.0 gpT) in four closely spaced deposits. The 1999 program focused on the Tiriganiaq deposit which contains an inferred gold resource of 4.3 million ounces. The program consisted of 21,000 metres of diamond drilling in 127 holes and was designed to test the deposit on 25 to 50 metre centres to a depth of 200 metres below surface. This in-fill drilling has greatly improved the confidence in the Tiriganiaq deposit. WMC is recalculating the resource, which will include the results from the 1999-drill campaign and is expected to be completed in Q1 2000. All deposits on the project remain open at depth. The following table lists the highlights from the most recent results. /T/ Hole Number Grade Length of intercept Grams per Tonne Metres 99-357 21.30 4.63 99-366 32.55 3.60 99-397A 13.08 10.10 99-405 15.57 8.00 99-407 19.25 3.41 99-432 12.06 6.33 99-435 26.19 3.68 99-445 4.59 28.52 /T/ For a complete list of drill intersections, please contact the Company or visit our Website at www.info@goldmin.com. All intersections were compiled using a 3.0 gpT Au cutoff and a minimum mining width of 2.0 metres. Aurora: A new surface gold occurrence Exploration of the property by WMC continues to discover indications of new surface gold mineralization. The Aurora area, located 12 km west of the Tiriganiaq deposit, is a boulder train consisting of glacially transported, angular boulders containing significant gold mineralization. Gold values from 39 mineralized boulders range from 0.1 to 65 gpT gold and average 11.0 gpT. The boulders are found in a two square kilometer area and are interpreted to originate from a buried target (defined by a geophysical survey). WMC plans to drill this priority target in 2000. Cumberland is very pleased with the continued increase in the confidence of the Tiriganiaq deposit which will elevate the classification of the resources. In addition, the discovery of the Aurora area confirms that new, near surface deposits remain to be found on this prolific property. Cumberland Resources is a Canadian gold exploration company with interests in three emerging projects: Meadowbank (100%), Meliadine West (22% carried), and Meliadine East (50%). The Company is well financed with approximately $6.5 million in cash to advance its projects. All projects are located in the Nunavut Territory of Canada. On Behalf of the Board CUMBERLAND RESOURCES LTD. Glen Dickson, P. Geol. President -30- FOR FURTHER INFORMATION PLEASE CONTACT: Cumberland Resources Ltd. Glen Dickson, P. Geol.