To: Julius Wong who wrote (329 ) 10/23/2003 4:22:25 AM From: Pete Respond to of 1992 PXI.V has some ground in Mongolia- -------- They also have a jv with Goldcorp in Red Lake- It will take a railway line to get significant copper concentrate out of Mongolia however- That is something Robert Friedland and IVN will have to address... --------- Here is the latest PXI news release- ----- Press Release Source: Planet Exploration Inc. Planet Exploration Inc. - Drilling Intersects New High Grade Gold Mineralization Wednesday October 22, 8:30 am ET (TSX-VEN: PXI) CALGARY, Oct. 22 /CNW/ - Planet Exploration Inc. (TSX-VEN: PXI) is pleased to announce the continued successful exploration of its Sidace Lake project in the Red Lake Area. The exploration program is being financed by Goldcorp Inc. (GG:NYSE - G:TSX), under an agreement whereby Goldcorp can earn an initial 50-per-cent interest in the property. A total of six additional diamond drill holes have been completed (RL-03-31 to 36) comprising 2,915 meters. The last six holes were designed to test for the quartz sericite schist along strike and to step out from the main gold zone up to 900 metres east. Holes RL-03-31, 34, 35 and 36 encountered the quartz sericite schist zone with highly anomalous gold (0.5 - 2.7 grams) over intervals up to 45 metres. Hole RL-03-33 encountered 19.34 grams gold over 2 metres in mafic volcanics at a vertical depth of 140 meters. This represents a new style of high grade mineralization compared to the initial gold discovery zone. Further work will determine if this represents a new target type on the Sidace Lake Project. A detailed airborne magnetic survey has been completed and the preliminary data is being reviewed. The results of the airborne magnetics coupled with the 2002-2003 diamond drill programs and relogging of the 1998 and 1999 diamond drill holes has resulted in the determination that the original gold bearing quartz sericite schist zone is now interpreted by Planet to extend for more than three kilometres. The next diamond drill program will commence once Planet and Goldcorp have reviewed and compiled all the available exploration data. The program will comprise an EM survey which will be used in conjunction with the high resolution airborne magnetics data and mineral element analysis to refine new drill targets. The quality of the available data has allowed the interpretation of numerous structures that will be prioritized for drilling once the compilation is complete. The program will also include diamond drill holes to test the main gold zone at depth. Garry Clark, PGeo, of Clark Exploration Consulting, Thunder Bay, is the qualified person (QP) for this project. Planet is a well funded junior mineral exploration company with active gold zone projects in Canada (Sidace Lake) and Mongolia and Mexico. Ranjeet Sundher President (403) 262-3238 The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. For further information Paul McKenzie, Tel: (604) 681-9897, Toll Free 1-866-733-5253, Email: Investor@planetexploration.info, Website: www.planetexploration.info, European Investor Relations: Nick Fuller/Samantha Fletcher, N C Fuller Associates Ltd, Tel: +44 207 256 5204, Email: sam@nickfuller.com