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Gold/Mining/Energy : Virginia- VIA on Mse -- Ignore unavailable to you. Want to Upgrade?

To: Luc Richard who wrote (21)	11/13/1997 6:53:00 PM
From: Luc Richard	Read Replies (1) \| Respond to of 30

new discovery Attention Business/Financial Editors: VIRGINIA GOLD MINES INC. - LA GRANDE NORD: DISCOVERY OF A NEW STRUCTURE RICH IN GOLD-PLATINOIDS-SILVER QUEBEC, le 13 nov. /CNW/ - Virginia Gold Mines Inc. (''Virginia''), in partnership with Noranda Mining and Exploration (''Noranda''), is pleased to announce the discovery of a new structure rich in gold, platinum, palladium, and silver in the Sommet 4 area on the La Grande Nord property. That structure which was identified while prospecting during the fall of 1997, consists of a narrow brecciated zone mineralized in pyrite and malachite. The five grab samples collected along the structure all have returned high gold, platinum, palladium, and silver grades. These values are reported in the following table : NEW SOMMET SHOWING ------------------ ----------------------------------------------------------------------- Gold(g/t) Platinum(g/t) Palladium(g/t) Silver (g/t) Copper (%) ----------------------------------------------------------------------- 18.57 2.70 1.24 11 515.5 0.69 32.80 12.72 8.22 10 797.3 0.75 30.22 14.37 13.78 2 463.1 - 30.21 3.97 7.03 8 626.9 - 41.92 4.25 4.64 2 122.8 0.50 ----------------------------------------------------------------------- All samples have been analyzed by the certified laboratory of Chimitec, Val d'Or. This new zone is located 60 metres south of the Sommet 4 zone, a polymetallic structure that had returned high grades in silver, copper, cobalt, and nickel (up to 55.24% Ag - 25.75% Cu - 3.42% Co and 1.88% Ni). Following these results, a drilling program has immediately been put forward in order to test the lateral and vertical continuity of these high-grade structures. Noranda has the option to acquire a 50% interest in the property by spending $2.5 million in exploration work and by making payments totalling $250,000 over five years. Virginia Gold Mines is among the most active mining exploration companies in Qu‚bec, Canada, with an exploration budget exceeding $6 million for 1997, $14 million in cash, approximately 24 million shares issued and outstanding, and is debt free. Virginia owns more than 30 properties covering 4,000 square kilometres. The Company concentrates its activities in the vast unexplored regions of northern Qu‚bec. -30- For further information: Andr‚ Gaumond, President, Marie-Claude Poitras, Investor Relations, (800) 476-1853, (418) 694-9832, E-mail: mines@virginia.qc.ca