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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Salt'n'Peppa who wrote (1640)	12/5/2003 11:35:52 AM
From: rdww	Respond to of 16206

GEM acquires more Atta land and MAP attached! FOR: PELE MOUNTAIN RESOURCES INC. TSX VENTURE SYMBOL: GEM DECEMBER 5, 2003 - 10:38 ET Pele Mountain Stakes Key Claims and Advances Exploration at Attawapiskat River Diamond Project TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture: GEM) ("Pele" or the "Company") is pleased to announce that it has staked and recorded an additional large group of strategically located mining claims that straddle the extension of the NNW linear trend along which most of the Attawapiskat diamond-bearing kimberlites occur. Pele's recent staking includes approximately 1000 claim units which are contiguous to the Company's West River Property, the boundary of which is now located approximately one (1) kilometre from De Beers' Tango-1 kimberlite pipe. Pele's Attawapsikat River Project currently covers more than 60,000 acres and comprises the largest 100% owned claim holdings located within a 30 kilometre radius of De Beers' Victor kimberlite pipe (see attached map). Pele staked and recorded some of its new claims on the same ground where mining claims, previously owned by another exploration company that were subject to an active joint venture, were cancelled more than one month earlier by the Ministry of Northern Development and Mines. Pele also announced today that it has increased the size of its exploration camp on its West River Property and has mobilized additional men and equipment into the camp. The ground geophysics program announced in Pele's press release of October 30, 2003 is continuing and the Company is currently preparing to commence a ground sampling program. A power auger system has been acquired and will be used initially to test areas of potential interest. A core drilling system has also been acquired and mobilized to a staging area where it is immediately available to collect samples from deeper more competent bedrock if necessary. Pele's Attawapiskat River Project is strategically located within an area that is considered to have a "high" potential for the discovery of additional kimberlites (Sage, OFR 6019, 2000). At least 18 diamond-bearing kimberlites have already been discovered in the area, including the De Beers' Victor kimberlite pipe which, according to published information, is advancing towards planned commercial diamond production in 2007. Recent discoveries announced by Metalex Ventures and its joint venture partners also suggest that additional kimberlites are likely to be present in the area. This press release has been reviewed and approved by Dr. Edward Walker P. Geo., of PetroLogic Inc., an independent consultant and Qualified Person. Pele is a Canadian mining exploration and development company and a leader in the search for economic diamond and gold deposits in Northern Ontario. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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. For the map entitled 'Attawapiskat Area', please see the CCNMatthews website at the following URL: www2.cdn-news.com