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Gold/Mining/Energy : Consolidated Silver Tusk Mines Ltd. -- Ignore unavailable to you. Want to Upgrade?

To: Randy who wrote (2211)	10/4/2000 2:41:25 PM
From: Randy	Read Replies (1) \| Respond to of 2229

October 2, 2000 News Release Consolidated Silver Tusk Mines Limited would like to announce the following developments with respect to its business activities. The Company is proceeding with the preparation of the registration statement on Form 20-F for filing with the U.S. Securities and Exchange Commission to allow the Company to apply for listing of the Company’s stock on the Nasdaq OTC-Bulletin Board. The Company’s stock is currently trading on the Nasdaq pink sheets under the symbol “CSITF”. In addition to the planned production activities at the Company’s KBU site in Indonesia, the Company will be announcing the completion of an acquisition and expansion plan in which the Company will acquire the mineral rights to several additional properties, either outright or under a joint venture arrangement. Acquisition of these additional Indonesian properties will provide the Company with the opportunity to expand their interest in gold resources, close enough in proximity to the existing KBU production plant, to allow for the trucking in of ore to the existing production plant for processing, thereby eliminating the cost of, and the need for, further production plants. The Company hopes to complete negotiations with mineral rights landowners in Mexico and Africa in an on-going effort to further expand the Company’s asset portfolio. These additional properties in Africa and Mexico all have existing free milling stockpiled ore ready for processing. Upon completion of the acquisition and joint venture negotiations for these properties currently under consideration and/ or negotiation, the open pit production plant designed for Indonesia will be used as a cost effective blue print, and will be replicated on each newly acquired property. One of the advantages to the production plant design in Sumatra is the fact that it is relatively inexpensive (approximately $1.5 million) in base cost, and is capable of processing at least 500 tonnes per day. The Company aims to have at least four properties in production by April 2001. The main focus of the Company will therefore be concentrated on the further acquisition of small to medium sized mineral resource properties, with advanced stage work programs already completed and ready for immediate production activity. In addition to having one large operation located in one demographic area, the Company will also focus on having several smaller properties in production reflecting a diversified demographic portfolio.