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Gold/Mining/Energy : Commander Resources Ltd -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (5)	6/3/2003 1:48:57 PM
From: VAUGHN	Read Replies (1) \| Respond to of 169

*SVB NEWS RELEASE* Donner Minerals Ltd.: SVB Project Update Monday June 2, 5:29 pm ET VANCOUVER, BRITISH COLUMBIA--Mr. Harvey Keats, President of Donner Minerals Ltd. (the 'Company') announces that further to the Company's news release of April 24, 2003, the interpretation of the deep penetrating airborne MegaTEM survey over the South Voisey Bay Project has now been completed. The survey has identified nine conductive trends which will now be subject to ground geophysical follow-up to select and accurately locate targets for diamond drilling. In the North Gabbro area, on ground held by SVB Nickel Company Ltd. ('SVBN'), Donner/Northern Abitibi, Donner/Commander and SVBN/Pallaum, there are six conductive trends that have been identified by the MegaTEM survey. The ground follow-up will consist of widely spaced AMT electromagnetic ('EM') ground geophysics to be followed by large loop EM surveys. The ground follow-up will be in the general area of the highest grades and nickel tenors intersected on the SVB Project to date. Three conductive trends, on strike with known gabbros, have been identified by the MegaTEM survey in the South Gabbro area on ground held entirely by SVBN. Ground follow-up will consist of large loop EM surveys. In addition, three conductive trends on the eastern portion of the SVBN property and one on the northern portion of the SVBN property, have been selected for follow-up in the field prior to a decision to carry out ground geophysics. High priority anomalies will be selected for diamond drilling. The 2003 program is being carried out by Falconbridge Limited. Falconbridge can earn a 50% interest in the entire South Voisey Bay Project by spending $23 million on exploration over a five-year period. Falconbridge had spent approximately $2.3 million to the end of 2002 and is required to spend an additional $1.7 million in 2003 to maintain its option. There are four ownership blocks in the South Voisey Bay Project: the wholly owned SVBN property; the Donner/Northern Abitibi joint venture property; the Donner/Commander joint venture property; and the SVBN/Pallaum Minerals joint venture property. The ownership of SVBN is as follows: Donner Minerals Ltd. 76.69%; Cypress Development Corp. 11.36%; NDT Ventures Ltd. 6.55%; UC Resources Ltd. 5.40%. Donner has a 52% interest in the Donner/Northern Abitibi joint venture property and Donner has a 52% interest in the Donner/Commander joint venture property. SVBN has a 75% interest in the SVBN/Pallaum joint venture property. On Behalf Of The Board Of Donner Minerals Ltd. Harvey Keats, President Regards Vaughn