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

To: Chris L. who wrote (4009)	12/2/1999 12:24:00 PM
From: Steve Stakiw	Respond to of 4057

Chris, Field work is continuing on both the Highland and Eastgate properties in western Nevada thanks to unseasonably warm and dry weather, and we will report results when completed and after our JV partners, Hecla and Echo Bay respectively, (who are funding the work) approve the release of information. As we've previously reported both partners intend to drill the projects in 2000. Fairmile and Echo Bay have been formulating a drilling program for the Eastgate project and have initiated its permitting. The junior mining environment remains weak and as a result, raising funds and finding JV partners (for Buffalo Valley) has been difficult. As a result, we have stretched out our work programs to reduce costs. Much of this weakness in the junior mining market and subsequently Fairmile's share price is influenced by the price of gold, which has fallen recently due to Monday's Bank of England sale of 25 tons. It is also the 'tax-loss' season, further pressuring stock prices. The Company will keep shareholders apprised of developments as they occur. Steve