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

To: russwinter who wrote (221)	3/12/2001 4:51:52 PM
From: TrueScouse	Read Replies (3) \| Respond to of 260

Russ: Good news from GEO, although not unexpected. Always nice to hear about a "first pour" <g> It looks like the recoveries are exceeding expectations. Regards, Howy ========================== Geomaque Pours First Gold at Vueltas del Rio Mine Vueltas del Rio production estimated at 56,000 ounces in 2001 TSE Symbol: GEO TORONTO, March 12 /CNW/ - Geomaque Explorations Ltd. is pleased to announce the first gold pour at its Vueltas del Rio Mine in Honduras. The Company expects Vueltas del Rio to produce 56,000 ounces of gold in 2001 at a cash cost of approximately $200 per ounce. Mining began at Vueltas del Rio in December 2000. As of late February, contained gold in the first four benches of ore mined was 39% higher than expected. Solution was first applied to the heap on February 20, 2001. "Mining is exceeding our expectations and the grade coming off the pad confirms the rapid gold recovery projected in the feasibility study," said John Paterson, President and CEO. "We anticipate reaching commercial production at Vueltas in the second quarter, and taking into account both Vueltas del Rio and San Francisco we expect 2001 to be a record year for gold production." Geomaque Explorations Ltd. is an international mining company that is producing gold from its Vueltas del Rio Mine in Honduras and San Francisco Mine in Mexico, and exploring for precious metals in the Americas. For further information: please visit our website at www.geomaque.com, or contact: Sean Stokes, Manager, Investor Relations, (416) 956-7470, e-mail sstokes@geomaque.com; To request a free copy of this organization's annual report, please go to www.newswire.ca and click on reports@cnw.