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Gold/Mining/Energy : EET Etruscan Enterprises T -- Ignore unavailable to you. Want to Upgrade?

To: JR. who wrote (111)	11/3/2002 12:49:28 PM
From: JR.	Read Replies (1) \| Respond to of 281

DIAMOND PLANT ACHIEVES DESIGN CAPACITY Windsor, Nova Scotia, October 28, 2002 -- Etruscan Resources Inc. (EET.TSX) and Mountain Lake Resources Inc. (MOA.TSX Venture) jointly announced today that commissioning and start-up of their diamond processing plant at Ventersdorp in the Republic of South Africa has been successfully completed. The plant has achieved its designed throughput capacity of 200 tonnes per hour. Annual production at this rate is forecast at 1.2 million tonnes. Plant modifications are now in progress that will allow the existing plant to exceed this production target. In addition to these modifications a twinning of the existing plant is in the design stage, as previously announced. Gemstone quality diamonds have been recovered during the commissioning and start-up phase consistent with the size and quality range for the Ventersdorp District. After a minimum of 100,000 tonnes of gravel have been mined and processed the companies will report on the details of the diamonds recovered. The plant is operating on two 12-hour shifts per day, 7 days per week. The mine and plant employ a workforce of 70. The official opening of the mine will take place on November 5, 2002 with an anticipated attendance in excess of 200 people. Gerald McConnell and Allen Sheito, respectively President and Chief Executive Officers of Etruscan and Mountain Lake jointly stated, "The official opening of this mine will mark a significant turning point for both companies. We look forward to greeting employees, shareholders and government officials next week on site. It will be with great pleasure that we report back to all shareholders on the success of the Ventersdorp Diamond Project which has now secured cash flow for both Etruscan and Mountain Lake." Etruscan continues to provide detailed updates and photographs on construction and commissioning progress at its website at www.etruscan.com. The common shares of Etruscan are traded on The TSX Exchange under the symbol "EET". The common shares of Mountain Lake are traded on the TSX Venture Exchange under the symbol "MOA". For more information from Etruscan contact: Richard Gordon, Investor Relations Tel: (902) 798-9701 / Fax: (902) 798-9702 Tony Hayes, Vice President Tel: (416) 368-0882 / Fax: (416) 367-3638 For more information from Mountain Lake contact: Allen Sheito, President and CEO Tel: (902) 542-9773 / Fax: (902) 542-4442 Frank Metcalf, QC, Director Tel: (902) 420-1990 / Fax: (902) 429-1171 NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE