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Gold/Mining/Energy : Southwestern Gold -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (178)	12/2/1999 4:13:00 PM
From: paul ross	Respond to of 585

VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 2, 1999--Southwestern Gold Corporation (TSE:SWG. - news) and Global-Pacific Minerals Ltd. (TSE:GPJV. - news) announce that the initial drilling program on the CSH Prospect has confirmed a major gold resource extending over a strike length of 3,700 metres gold mineralization is open to the west and at depth. The CSH prospect is located about 500 km northwest of Beijing and situated in the Haoya Project Area, Inner Mongolia, China. A total of 2,800 metres were completed in 10 widely spaced diamond drill holes with individual drill sections spaced from 200 metres to 1,300 metres apart. Further trenching was also completed bringing the total number of trenches excavated on the prospect to 107. Trench results include (100 metres of 1.7 grams per tonne gold) in Trench TC 8 and (88 metres of 1.54 grams per tonne gold) in Trench TC 10200. Over the 3,700 metre strike length gold mineralization varies in thickness from 40 metres to 140 metres with depth of mineralization confirmed in drillholes to over 250 metres. Based on results from drilling, trenching, several adits and two shafts; the Company estimates a geological resource of more than 150 million tonnes averaging 1.2 grams per tonne gold (5.8 million ounces of gold) is estimated for the CSH Zone. An extensive drilling program will be required to define indicated resources and to test a number of additional targets to the west of the present limits of drilling. Under the terms of an agreement dated March, 1999 with Team 217 of the Northwest Bureau of the China National Nuclear Corporation, Southwestern and Global can earn an 80% interest in the property by spending US $2.5 million on exploration and making cash payments of US $1.125 over a three year period. Once the companies have earned their 80% interest, ownership in the joint venture company, Ningxia Heija Mining Company, will be Southwestern 56%, Global 24% and Team 217 20%. Further contributions to exploration will be on a pro-rata basis. Details of drillholes are presented in the following table and hole locations shown on the location map which can be viewed at www.cdn-news.com or by contacting the company at the numbers listed below. Hole No. Co-ords. Depth Intersection Interval Assay Comments (metres) (metres) (metres) (g/t From To gold) --------------------------------------------------- --- CSH-1* 10,000E 212.92 56.00 77.68 21.68 2.59 Bottomed in 9799N 148.65 212.92 64.27 1.45 Mineral- izat ion CSH-2* 10,600E 220.01 105.73 136.91 31.21 1.02 Bottomed in 9868N 185.81 220.01 34.20 1.01 Mineral- izat ion CSH-3* 10,600E 308.29 17.19 290.74 273.55 1.28 9742N CSH-4* 10,600E 272.52 41.67 91.42 49.75 0.91 9812N CSH-5* 7,299E 302.00 25.9 46.09 20.19 1.60 9877N 133.6 165.45 31.85 1.08 CSH-6 9,800E 224.67 78.58 84.8 6.00 1.16 Drilled 9530N 144.58 148.58 4.00 1.95 south of main zone CSH-7 8,305E 304.44 30.64 63.00 32.36 1.19 9534N 116.00 156.00 40.00 1.11 181.00 201.00 20.00 1.13 CSH-8 10,200E 300.51 55.00 228.00 173.00 1.01 9766N CSH-9 7850E 350.65 210.00 248.00 38.00 1.37 CSH-10 10,403E 301.00 34.00 100.00 66.00 1.16 9813N 138.00 170.00 32.00 0.98 *previously reported The CSH gold mineralization represents a major discovery in the eastern part of the North China/Tien Shen Gold Belt. Gold mineralization is hosted by carbonaceous sediments in a steeply dipping shear zone and is associated with quartz veining and pyrite. Representatives from several major mining companies have visited the property and expressed interest in a joint venture. Discussions with these companies are continuing. Diamond drill core samples were split with one-half of the core sent to the Ministry of Geology and Mineral Resources Langfang Laboratory in Beijing and the other half of the core stored on site. The samples are analyzed using aqua regia - AAS at the Langfang Laboratory. All sample pulps were shipped to Chemex Labs in Vancouver for repeat analysis using conventional fire assay with AAS finish. Southwestern Gold Corporation presently has over 22 joint ventures with companies including Newmont, PanAmerican Silver, Teck, Pasminco, Paramount Ventures, Southern Peru Copper, Asarco, Cambior and Cedimin. The Company is exploring for diamonds in Brazil and Canada through its 54.7% owned subsidiary, Canabrava Diamond Corporation, in partnership with Kennecott/Paramount and SouthernEra. Global-Pacific is a gold-base metal mining company engaged in mining exploration and development in the People's Republic of China. The Company currently operates the Hucun copper/gold mine and is developing the Qian Chang iron-gold-copper deposit, both of which are located in Anhui Province, China. Some of the statements in this news release contain forward-looking information which involves inherent risk and uncertainty affecting the business of the Company. Actual results may differ materially from those currently anticipated in such statements. Copyright 1994-1999 Yahoo! All Rights Reserved. Copyright © 1999 Business Wire. biz.yahoo.com

To: Claude Cormier who wrote (178)	12/3/1999 7:04:00 PM
From: charred	Read Replies (1) \| Respond to of 585

Hello Claude, just reading the news release from the China drilling. There is something there. What I was disturbed about is that several senior companies have expressed interest in the project. I hope they aren't looking for a partner. SWG should operate and manage the this project to the feasibility stage at least. They have the cash do so. I know SWG likes to JV their ground. However when they only own a percentage of the project, a JV doesn't leave with much interest. I hope they do this themselves. What do you think?