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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (8177)	2/27/2003 2:32:31 PM
From: rdww	Respond to of 39344

New zone measures 1500M+ x 50M on surface and is south of the existing deposit at Ardeen - drill results from the other zones coming soon Pele Mountain Resources Inc.: Compilation Reveals New Potential at Pele's Ardeen Gold Mine Project Thursday February 27, 9:57 am ET TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture:GEM - News; "Pele") is pleased to announce that a recent compilation of surface sampling and geophysical surveys has revealed a new gold zone at Pele's 100% owned Ardeen Gold Mine Project. The zone, is subparallel to and is located approximately 400 meters to the south of the Pele Zone, which hosts an extension of the gold-bearing veins mined during the 1930's in the Ardeen Gold Mine. High-grade gold assays from the zone are coincident with a portion of a 1.5 kilometer long induced polarization (IP) anomaly that continues beyond the end of the surveyed grid. The gold mineralization occurs in a wide system of sub parallel quartz veins, which cut mafic volcanics and gabbro. This data combined with the close proximity to the Ardeen Gold Mine suggests the potential for an important new gold zone. Bedrock samples have confirmed a 50 meter wide section of gold mineralization where the main IP anomaly branches into a secondary anomaly. A total of 12 grab samples were collected from across the area by Pele geologists in 1996 and 1997. Samples from the quartz veins returned the following gold values: 44.3g/t, 24.9g/t, 23.2g/t, 20.2g/t, 7.6g/t, 6.3g/t, 1.5g/t, 1.2g/t, 0.6g/t, and 0.3g/t. Two samples from the altered host rocks returned gold values of trace and 1.63g/t. The first known sample from this location was collected by Mike Fogen, a local prospector, who reported a grab sample from bedrock returned an assay of 3.5 ounces of gold per tonne in 1989. Accordingly, the new zone has been named the Fogen Zone. Pele completed its 2003 first phase drill program at the Pele Zone located 400 meters north of the Fogen Zone earlier this month. Results from the drilling are expected to be available within the next two weeks. Pele is a Canadian mining exploration and development company and a leader in the search for economic diamond deposits in Northern Ontario. Pele controls a 100% mineral rights interest in the 101 square km Festival Diamond Property, which is located 25 kms north of Wawa. Pele also owns a 100% interest in two gold projects in northwestern Ontario including the Ardeen Gold Mine Project. This press release had been reviewed and approved by Peter Dimmell P.Geo., a Qualified Person and a Director of Pele. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. None of the Company's properties have any known ore body of economic or commercial value. -------------------------------------------------------------------------------- Contact: Pele Mountain Resources Inc. Al Shefsky President Phone: (416) 368-7224 Fax: (416) 368-7230 Email: info@pelemountain.com Website: www.pelemountain.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

To: Canuck Dave who wrote (8177)	2/27/2003 3:39:38 PM
From: Silver Super Bull	Read Replies (2) \| Respond to of 39344

CD, RE: "Now, what is the best strategy for the next year?" I'm focusing more on the next 2 months. I am expecting unreal volatility in the dollar, stock markets, gold/silver and oil. Not to mention a wild ride for our beloved juniors. It should be very profitable for those who have foresight and are very agile. DB

To: Canuck Dave who wrote (8177)	2/28/2003 3:35:32 AM
From: paul ross	Respond to of 39344

What I did before the last gold bull market in 93 was to subscribe to about 4 or so newsletters that dealt with junior mining stocks. Bishop, Casey,etc. If a stock was recommended by 2 letters I bought it, I think I doubled my money on those stocks. Three recos- were like 4 baggers. A stock recommended on all 4- I think there were 3 - Diamond Fields, Arequippa, and Aber. Bought DFR at low 2'sC, sold half of original purchase for like $C12 and the other half for 4 INCOs at $26 US each.ABERF was like 1.50C to 12.50C. AQP from 1.75C to 25.00-30.00C. Tough part is to hold on.