To: J. Nelson who wrote (2189 ) 10/28/1999 9:48:00 AM From: O'Brien Respond to of 2392
(BSNS WIRE) Golden River Resources Inc. Announces It Has Signed A Letter Golden River Resources Inc. Announces It Has Signed A Letter Of Intent With Orex Gold Mines Corp. Business Editors MOUNT VERNON, Wash.--(BUSINESS WIRE)--Oct. 28, 1999--Golden River Resources Inc. (OTCBB: GDRV) is pleased to announce that it has signed a letter of intent with Orex Gold Mines Corp. (OTCBB: ORXX). It is the intention of the Company to come to a definitive agreement for the use and marketing in Mexico of Orex's Licensed gold technology. Orex is using an innovative gold extraction process that does not use sodium cyanide and is environmentally benign. The potential market for this type of product in Mexico is very large. The Company intends to introduce the technology to the Mexican mining industry with the assistance of its joint venture partner, Minera Fuerte Mayo, S.A. de C.C. Inc. Minera Fuerte has extensive mineral claims throughout Mexico. OREX is presently carrying out production scale tests on their gold extraction technology near Wickenburg, Arizona. Company personnel and consultants will be visiting the site over the next few weeks. Recoveries of over 95% of the gold from sulphide bearing quartz veins have been reported. A gold extraction system that does not use cyanide or other environmentally harmful reagents has an enormous potential market worldwide. Reduced environmental liability would offset a very large price differential above conventional extraction technology. The Company believe that it will have the opportunity to be involved at the ground floor in an exciting and environmentally beneficial technology. *T On Behalf of the Board David St. Clair Dunn, P. Geo. President 1-800-265-1177 (North America) *T No Stock Exchange or Regulatory Authority has either approved or disapproved of this News Release. This release may contain forward looking statements made pursuant to the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertain, including, without limitation continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's periodic report --30--mjc/cgo* CONTACT: Golden River Resources Inc. David St. Clair Dunn, 800/265-1177