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

To: jrhana who wrote (20602)	9/17/2003 10:05:17 AM
From: menanna	Read Replies (1) \| Respond to of 39344

Hi JR, TGX discovers gold near Regal Ridge biz.yahoo.com Ciao and cheers - Anna True North Gems and Hinterland discover gold in the Finlayson District Wednesday September 17, 7:00 am ET TGX-TSX-VEN /Not for distribution to U.S. newswire services or for dissemination in the United States of America. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release. WARNING: The Company relies on litigation protection for "forward-looking" statements./ VANCOUVER, Sept. 17 /CNW/ - True North Gems (TGX-TSX-VEN) has been informed by Hinterland Metals Inc. (HMI-TSX-VEN) that exploration has resulted in the discovery of significant gold mineralization on the company's Gleam option property located 15 kilometres northwest of the True North's Regal Ridge emerald property in the Finlayson District of the Yukon. The new gold-bearing structure was discovered during the course of Hinterland's recently completed Yukon emerald exploration program. A series of six chip samples across the showing returned a weighted average of 3.86 g/tonne gold and 48.1 g/tonne silver over a width of five metres. (0.113 oz/ton gold and 1.411 oz/ton silver over 15.4 feet). The gold-bearing structure consists of a vertical zone of massive to semi-massive sulphide mineralization approximately four metres wide found in brecciated wall rock that also shows disseminated sulphide mineralization. The sulphide mineralization has not yet been positively identified. "The discovery of gold by Hinterland on the Gleam property is an indication of the exploration potential of the highly mineralized Finlayson District for base metals, gold and gemstones. While True North Gems welcomes this latest exploration success, the company will continue to focus on gemstone exploration," says Andrew Smith, CEO of True North Gems. Hinterland has optioned the property from True North and has the right to earn 100 percent interest in the claims under the terms of an option agreement signed in December 2002 (see press release December 11, 2002). Under the terms of the Gleam property agreement, True North Gems has the right to earn back 50 percent of the property by funding a C$200,000 exploration program after the conclusion of an initial three year agreement. True North Gems can also earn an additional 10 percent in the property by financing all the costs up to commercial production. True North Gems is a public company, listed on the TSX-Venture Exchange and is engaged in the exploration and development of North American gemstone deposits. The company is a pioneer in Canadian emerald exploration and owns a 100-percent interest in the Yukon-based Regal Ridge property and in the Ontario-based Ghost Lake property. Regal Ridge and Ghost Lake host the only two confirmed emerald deposits in Canada.