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Gold/Mining/Energy : Ontex Resources (ONT Alberta) -- Ignore unavailable to you. Want to Upgrade?

To: wharryr who wrote (444)	11/22/1999 8:38:00 AM
From: mark warburton	Read Replies (1) \| Respond to of 519

News Release Disclaimer Ontex Announces Brookbank Drill Results Monday, November 22, 1999, 7:30 AM EST Toronto, Ontario Ontex Resources Limited is pleased to announce additional results of drilling from the 29,000 acre, 655 claim Beardmore-Geraldton property, located 180 km northeast of Thunder Bay, Ontario. The current results compiled in the attached table are from the 18 Brookbank leased claims, owned 100% by Ontex subject to a 1% net smelter return royalty to Metalore Resources Limited. They contain the Brookbank Gold Deposit, which previously was calculated to contain an inferred mineral resource of 1,381,980 tons, grading 0.263 ounces of gold per ton, 0.233 ounces per ton with assays cut to 1 ounce. The estimate was prepared by Placer Dome in 1990 and the resource remains open along strike and at depth. Ontex can also earn 60 to 70% interests from Metalore in 637 adjoining leased and staked claims by spending up to $ 1.5 million in exploration over 4 years. A total of 6 holes were recently completed at Brookbank, 3 of which were drilled 180 to 215 metres (600 to 700 feet) east of the deposit in a new zone previously identified in hole B-99-4. The Company is pleased to report that hole B-99-15 intersected 3.28 feet, grading 0.203 ounces of gold per ton and 0.105 ounces per ton within a deeper 14.04 foot interval. Higher, 0.154 and 0.138 ounce per ton grades were achieved over 3.28 foot widths included within the larger interval. Similar grades were intersected in nearby holes -14 and -16, indicating continuity between 7 holes completed by Ontex in the zone this year. Further drilling is planned to test the down-plunge extension of the zone and the potential for continuity with the main deposit. Holes B-99-12, -13 and 13W1 were drilled on the west side of Brookbank and extend the deposit 30 metres (100 feet) along strike to Line 22 W. Intersections include 13.12 feet, grading 0.10 ounces of gold per ton in Hole -13, including 3.28 feet, grading 0.131 ounces per ton. Ontex will resume drilling on the Beardmore-Geraldton property after a 2 week break to review the results achieved to date. Further results will be released as they are completed on each zone. Issued Capital: 39,036,506 Common Shares ONTEX RESOURCES LIMITED [signed] ROBIN GOAD, PRESIDENT For further information, please contact Sam Fuda in Toronto (Tel. (416) 360-4031, Fax. (416) 360-4034) or, Robin Goad or Gary Conn in London (Tel. (519) 455-8127, Fax. (519) 455-1846), by Email: info@ontex resources.com or, visit our website at: www.ontexresources.com. BROOKBANK DRILL HOLE INTERSECTIONS ---------------------------------- from to core width Gold core width true width Gold (m) gms/tonne (ft) (ft) ozs/ton ----------------------------------------------------------------- Hole # B-99-12 Line 22 west, 126.4 metres south, Azimuth 345, Dip -45 119.00 121.14 2.14 1.92 7.02 5.61 0.056 Including 120.00 120.50 0.50 3.13 1.64 1.31 0.091 122.64 123.64 1.00 1.89 3.28 2.62 0.055 128.86 129.86 1.00 1.78 3.28 2.62 0.052 138.79 139.79 1.00 2.64 3.28 2.62 0.077 Hole # B-99-13 Line 22 west, 208.5 metres south, Azimuth 343, Dip -65 300.00 304.00 4.00 3.44 13.12 8.01 0.100 Including 301.00 302.00 1.00 4.50 3.28 2.00 0.131 309.00 309.69 0.69 1.72 2.26 1.38 0.050 315.79 320.59 4.80 3.01 15.75 9.61 0.087 Including 316.59 317.59 1.00 4.08 3.28 2.00 0.118 Hole # B-99-13 W1 Line 22 west, 208.5 metres south, Azimuth 351, Dip -61 313.62 317.50 3.88 3.24 12.73 9.03 0.094 Including 313.62 316.00 2.38 4.69 7.81 5.54 0.136 Including 313.62 315.27 1.65 5.94 5.41 3.84 0.172 Hole # B-99-14 Line 3 west, 90 metres south, Azimuth 344, Dip -48 91.11 92.00 0.89 3.63 2.92 2.36 0.105 117.20 118.12 0.92 3.64 3.02 2.49 0.106 Hole # B-99-15 Line 3 west, 140 metres south, Azimuth 345, Dip -60 192.00 192.68 0.68 2.52 2.23 1.48 0.073 199.00 200.00 1.00 6.99 3.28 2.20 0.203 210.88 224.00 13.12 2.28 43.04 28.87 0.066 Including 219.72 224.00 4.28 3.61 14.04 9.45 0.105 Including 221.50 222.50 1.00 5.30 3.28 2.23 0.154 Including 223.00 224.00 1.00 4.77 3.28 2.20 0.138 Hole # B-99-16 Line 4 west, 90 metres south, Azimuth 343, Dip -60 113.25 115.00 1.75 3.15 5.74 4.07 0.091 113.25 114.22 0.97 4.14 3.18 2.26 0.120 129.00 130.00 1.00 2.11 3.28 2.33 0.061 138.00 143.00 5.00 2.20 16.40 11.65 0.064 Including 140.00 141.00 1.00 5.76 3.28 2.33 0.167 147.00 154.42 7.52 1.22 24.67 17.29 0.036 Including 147.00 148.00 1.00 3.11 3.28 2.33 0.090 * equals degrees ONTEX RESOURCES LIMITED (Mining) ontexresources.com ASE: ONT 0.550 N/A Add this organization to my portfolio -------------------------------------------------------------------------------- © 1999 BCE Emergis

To: wharryr who wrote (444)	12/3/1999 9:14:00 AM
From: mark warburton	Respond to of 519

News Release Disclaimer Ontex Resources 1999 Third Quarter Interim Financial Statements Monday, November 29, 1999, 7:32 PM EST Toronto, Ontario Listing: Canadian Venture Exchange, Symbol "ONT" Issued Capital: 39,036,506 Common Shares Ontex Resources Limited is pleased to present its third quarter unaudited, interim financial statements for the 9 months ended September 30, 1999. ONTEX RESOURCES LIMITED [Signed] Robin E. Goad President Further information can be obtained from Ontex Resources Limited in London (contact Robin Goad at: Tel. (519) 858-8188 or Gary Conn at Tel. (519) 455-8127); and in Toronto (contact Sam Fuda at Tel. (416) 360-4031; by Email at: info@ontexresources.com, or visit our Website at: www.ontexresources.com. Neither the Canadian Venture Exchange nor any securities Regulatory Authority has approved or disapproved of the contents of this news release. ONTEX RESOURCES LIMITED CONSOLIDATED STATEMENT OF LOSS AND DEFICIT For the 9 For the 9 Month Period Month Ended Period September 30, Ended 1999 September 30, 1998 [Unaudited] [Unaudited] --------------------------------------------------------------- Beardmore Option Payment - 5,000 Interest Revenue $ 154,967 $ 3,637 --------------------------------------------------------------- 154,967 8,637 Administrative & General Expenses 601,059 236,877 Operating Income (Loss) for the Period (446,092) (228,240) -------------------------------------------------------------- Gain on Issue of Shares in Subsidiary 423,257 - Income (Loss) for the Period (22,835) (228,240) Minority Interest 55,846 - Net Income (Loss) for the Period $ 33,011 $ (228,240) Deficit, at the Beginning of the Period (5,411,867) (4,990,026) ---------------------------------------------------------------- Deficit, at the End of the Period $ (5,378,856) $ (5,218,266) ---------------------------------------------------------------- Net Income (Loss) per Common Share $ - $ (0.01) ---------------------------------------------------------------- ONTEX RESOURCES LIMITED CONSOLIDATED STATEMENT OF LOSS AND DEFICIT ONTEX RESOURCES LIMITED CONSOLIDATED STATEMENT OF CHANGES IN CASH POSITION For the 9 For the Month Period 9 Month Ended Period September 30, Ended 1999 September 30, 1998 [Unaudited] [Unaudited] ----------------------------------------------------------------- Cash Resources Provided by (Used in): Operating Activities Net Income (Loss) (22,835) $ (228,240) Depreciation 6,667 - Gain on Issue of Shares in Subsidiary (423,257) Change in Non-Cash Working Capital Balances (73,263) (28,780) ---------------------------------------------------------------- (512,688) (257,020) ---------------------------------------------------------------- Investing Activities Capital Assets (11,468) - Acquisition of Mining Properties (30,000) - Exploration Expenditures (1,006,522) (14,441) ---------------------------------------------------------------- (1,047,990) (14,441) ---------------------------------------------------------------- Financing Activities Issue of Shares 1,787,500 - Issue of Shares in Subsidiary 1,155,700 - Share Issue Costs (79,740) - Deferred Financing Costs (1,120) - ---------------------------------------------------------------- 2,862,340 - ---------------------------------------------------------------- Increase (Decrease) in Cash for the Period 1,301,662 (271,461) Cash, at the Beginning of the Period 3,346,847 447,381 ---------------------------------------------------------------- Cash, at the End of the Period 4,648,509 $ 175,920 ----------------------------------------------------------------- ONTEX RESOURCES LIMITED 596 Hamilton Road, London, Ontario N5Z-1S6 Tel. (519) 455-8127 * Fax. (519) 519-455-1846 150 York Street, Suite 1206, Toronto, Ontario M5H-3S5 Tel. (416) 360-4031 * Fax. (416) 360-4034 ONTEX RESOURCES LIMITED (Mining) ontexresources.com : ONT Add this organization to my portfolio -------------------------------------------------------------------------------- © 1999 BCE Emergis