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Gold/Mining/Energy : CUMBERLAND RESOURCES (CBD) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (216)	6/7/2001 3:36:27 PM
From: I_C_Deadpeople	Read Replies (1) \| Respond to of 393

Cumberland continues expanding Vault deposit Cumberland Resources Ltd CBD Shares issued 26,221,781 Jun 6 close $0.70 Thu 7 Jun 2001 News Release Mr. Kerry Curtis reports The company is continually expanding the Vault gold deposit, located five kilometres northeast of the Meadowbank gold deposits (100 per cent owned). The now completed spring drill program included 19 widely spaced drill holes (4,044 metres). Drilling has significantly expanded the deposit at depth and outlined zones of continuous, higher grade mineralization. Highlights from drilling include: 8.09 grams per tonne over 4.79 metres at 293 metres below surface in hole VLT-035; 8.22 g/t over 4.25 metres at 121 metres below surface in hole VLT-039; 8.06 g/t over 3.75 metres at 155 metres below surface in hole VLT-042; and 8.93 g/t over 4.00 metres at 80 metres below surface in hole VLT-046. The Meadowbank gold project is located 70 kilometres north of Baker Lake in Nunavut. At the end of 2000 the project hosted combined measured and indicated resources totalling 7,358,900 tonnes grading 6.12 g/t or 1.45 million ounces and additional inferred resources totalling 6,850,300 tonnes grading 4.75 g/t (1.05 million ounces). Prior to the discovery of the Vault deposit, prefeasibility studies by MRDI Canada in April, 2000, identified proven and probable open pit reserves of 5.5 million tonnes grading 5.44 g/t (963,000 ounces). The study concluded that the project required additional resources and/or improved long-term gold prices to advance to feasibility. The Vault deposit (inferred 3,356,000 tonnes grading 3.9 g/t or 422,000 ounces in 2000) is located five kilometres northeast of these resources/reserves and has excellent potential to contribute open pit and underground reserves to the project. Brian Alexander, PGeol, is the project manager and designated QP for the Meadowbank project. Mr. Alexander has managed the project since 1997 and supervises drill hole planning, implementation and quality control/quality assurance programs. Drill core analysis is performed on split core with standard fire assay procedures and AA finish. QA/QC programs employ random insertion of four internal standards, field duplicates and blank samples. Gravimetric analysis is performed on any sample yielding greater than one g/t gold in fire assay. Primary assaying is performed by IPL Laboratories, of Vancouver. Chemex Labs of Vancouver provides external reference assaying. VAULT ZONE: 2001 SEASON DRILL RESULTS VLT01-028 123.75 129.63 15.88 3.65 115 VLT01-029 123.74 127.55 3.81 2.35 16 159.85 165.95 6.10 3.89 150 169.50 177.59 8.09 3.83 159 VLT01-030 154.05 160.80 6.75 2.59 145 VLT01-033 148.85 150.65 1.80 4.71 140 171.70 173.20 1.50 2.50 162 VLT01-034 257.07 263.33 6.31 2.84 241 Incl. 262.40 263.33 0.93 10.03 249 VLT01-035 311.53 316.32 4.79 8.09 293 Incl. 311.53 314.35 2.82 6.13 293 VLT01-036 192.85 195.55 2.70 1.94 182 228.25 229.85 1.60 3.27 211 VLT01-037 126.24 127.90 1.66 2.44 118 169.30 172.60 3.30 1.83 157 VLT01-038 134.76 136.45 1.69 4.04 126 VLT01-039 120.10 133.50 13.40 4.49 112 Incl. 129.25 133.50 4.25 8.22 121 VLT01-040 89.15 91.60 2.45 2.21 83 111.00 120.40 9.40 4.50 103 Incl. 111.53 117.3 5.77 5.45 103 VLT01-041 56.90 58.90 2.00 10.96 53 102.35 107.60 5.25 4.69 95 Incl. 103.35 107.60 4.25 5.44 96 112.60 116.33 3.73 6.54 104 VLT01-042 139.88 142.35 2.47 3.79 131 165.40 171.00 5.60 6.27 155 Incl. 166.80 170.55 3.75 8.06 156 VLT01-043 212.05 214.60 2.55 6.40 199 VLT01-044 89.13 91.54 2.41 8.50 83 98.36 102.45 4.09 2.98 91 VLT01-046 79.36 88.00 8.64 5.77 77 Incl. 84.00 88.00 4.00 8.93 80 All composites calculated at two-gram cutoff except where (*) five-gram cutoff applied. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com