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

To: 1st.mate who wrote (218)	4/19/2000 9:43:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 585

Southwestern Gold Corporation George H. Plewes Chairman (604) 669-2525 (604 688-5175 (FAX) Web site: www.swgold.com or Southwestern Gold Corporation John G. Paterson President (604) 669-2525 (604 688-5175 (FAX) -------------------------------------------------------------------------------- NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG FOR: SOUTHWESTERN GOLD CORPORATION TSE SYMBOL: SWG APRIL 19, 2000 SouthWestern Gold Corporation Announces Discovery Of Northeast Extension Of Luicho Gold Mineralization And New Silver/Gold Zone At Evita, Peru VANCOUVER, BRITISH COLUMBIA--Southwestern Gold Corporation (SWG-T) is pleased to announce that results of its recent rock chip sampling program has established that the northeast Luicho Gold Zone extends onto the Company's 100% owned Luicho exploration concession Peru. The Luicho concession is strategically located on the northwest, north and east boundaries of the Santiago 3 concession, which is owned by third parties and contains the Luicho Gold Zone. Southwestern has also discovered a silver/gold mineralizing system on its 100% owned Evita property located 7 kilometres north of Luicho. The Evita mineralization is hosted by the same rocks as those at Luicho and is within a similar structural setting. The Luicho/Evita properties are located about 170 kilometres northwest of Apequipa within the Southern Peru epithermal gold belt. At Luicho, the Company has a strategic land position along strike of the Luicho Gold Zone. Two main structural directions control the Luicho Gold Zone, namely north south and northeast outhwest. The projected extension of the north south zone onto Southwestern's property is covered by overburden and the Company plans a trenching program over this area. First phase sampling on the northeast structural corridor has shown that the Luicho Gold mineralization is continuous onto Southwestern's property. A total of 23 rock chip samples were collected with 52% of the samples returning above 0.2 g/t gold. Individual chip samples returned values of 8 metres of 1.69 g/t gold and 3 metres of 2.67 g/t gold in brecciated and stockworked quartzites. The breccias have both a vertical and horizontal orientation and many potential mineralized areas were not sampled due to rugged topography. The Company plans a more detailed program of sampling and trenching. About 7 kilometres north of Luicho, the Company has discovered a significant zone of silver/gold mineralization on its 100% owned Evita property. Some of the rock chip samples returned spectacular silver grades including a 2 metre sample running 2,600 g/t Ag. The Evita mineralizing system extends for 900 metres and is 500 metres in width. Silver/gold mineralization is associated with breccias and stockworks in the same quartzites as those hosting the Luicho Gold Zone. A number of old adits were observed over a vertical distance of 150 metres. These adits were inaccessible due to rugged topography and it is the Company's intention to hire climbers to sample these and other inaccessible areas. Significant rock chip samples at Evita include 3 metres of 0.6 g/t gold / 928 g/t silver; 2.6 metres 7.2 g/t gold / 998 g/t silver; 2 metres of 0.3 g/t gold / 847 g/t silver and 2 metres of 0.3 g/t gold / 1,465 g/t silver. Details of sample locations, assay results and photos are available for viewing at the Company's website. 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. 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. -30- --------------------------------------------------------------------------------