To: Famularo who wrote (122 ) 8/27/2002 9:41:40 AM From: Just G Respond to of 16203 Twin Mining Jackson Inlet property undergoes phase I Twin Mining Corp TWG Shares issued 73,404,344 Aug 26 2002 close $ 0.48 Tuesday August 27 2002 News Release Mr. Hermann Derbuch reports TWIN MINING REPORTS SECOND QUARTER RESULTS Twin Mining Corporation is very pleased with the progress made during this period. The board of directors approved phase I of a $10-million exploration budget for the Jackson Inlet property. Work on phase I ($1.7-million) is under way. Phase I exploration will consist of ground magnetometer surveys, soil sampling, gravity and core drilling on 12 magnetometer anomalies. Previously reported results Reported results from the examination of the 869 diamonds extracted from the six mini-bulk samples taken from the Freightrain pipe were very encouraging. Diamond Trading N.V. of Antwerp, Belgium, which carried out the examination stated: "The quality profile of the diamonds of the present sample is consistent with the sample reported previously. Notable is the high colour and purity grading of the sawable and makable stones and the absence of boart, rejection, cubes and coated." Grade modelling on these diamonds, performed by AMEC E & C Services Limited, produced significantly higher projected diamond grades compared with recovered grades, up to 0.5 carat per tonne. Twin Mining plans further testing of the Freightrain pipe and Cargo pipe. Earlier sampling on Freightrain covered only 0.5 per cent of the total surface area and produced very encouraging results. Processing of the TornGat kimberlite samples was completed and the results of the diamond analysis, performed by AMEC E & C Services Limited, will be announced as soon as they are available. The company reactivated the Atlanta Gold Mine located in Idaho and is advancing the project toward completion of a bankable feasibility study. During the quarter, the company retained Montgomery, Watson, Harza (MWH) from Boise, Idaho, to carry out an environmental audit of existing environmental baseline data for the project to establish the project priorities. The company believes these initiatives will substantially increase the value of its gold assets. The company completed a number of presentations and a conference call during the quarter to highlight the attractiveness of Twin Mining as an investment. Twin Mining was also a presenter at the World Diamond Conference held on June 17 through June 18, 2002, in Vancouver. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com old url (better for printing)