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Gold/Mining/Energy : L S Capital / Griffin Gold (OTC:BB CHIP) -- Ignore unavailable to you. Want to Upgrade?

To: Chuca Marsh who wrote (2358)	11/25/1997 9:58:00 AM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 3594

LS Capital Corporation Acquires Large Mineral Lease Holding In Arizona HOUSTON, Nov. 25 /PRNewswire/ -- LS Capital Corporation (OTC Bulletin Board: CHIP - news) announced today that Cochise Mining Corporation, its newly formed majority-owned subsidiary corporation, has acquired mineral lease hold interests covering 50,280 acres (78.6 square miles) in Cochise and Graham Counties, Arizona. The newly acquired acreage was sub-leased from Au Consolidated Inc. (Au) of Glendale, Arizona. Au holds a 40% ownership of Cochise Gold and will receive a 5% net smelter royalty from all precious metal production on the property. In exchange for a 60% interest in the Cochise Mining subsidiary, LS Capital has agreed to invest $1.4 million in equity, by May 1, 1998. Of the $1.4 million LS Capital has agreed to invest in Cochise Mining, approximately $900,000 will be used to erect a placer mining plant, with the remainder going toward related capital equipment necessary to mine and working capital for the operations. The initial mining will commence on an area of fee (private) land included in the transaction, located three miles east of the Lozena Interchange roughly 85 miles east of Tucson and 30 miles west of the New Mexico border. ''The addition of Cochise Mining to the LS Capital team represents an exciting diversification opportunity for the Company,'' commented Paul J. Montle, president and chief executive officer of LS Capital. ''In addition to the complex ores which may exist on the eastern part of the valley near two large zeolite mines, the southern portion of the property, namely the Gold Gulch area, has played host to conventional gold production since the beginning of the century.'' Montle went on to state, ''Grab-bag sampling carried out by Au Consolidated during the acquisition of this acreage indicates that the mineralization extends northward throughout much of the valley along the San Simeon River basin.'' As a part of the transaction Richard and Michael Bradshaw, both Au Consolidated shareholders, will join Cochise Mining as president and vice president of operations respectively. Richard Bradshaw, a graduate of the South Dakota School of Mines and Technology, holds a patent on ''Gaseous Extraction of Precious Metals From Mineral Compounds,'' and has also developed and patented the Cosmos Concentrator and the Bradshaw trough which Cochise Mining will utilize in its recovery activities. Michael Bradshaw, Richard Bradshaw's son, holds a B.S. in Geological Engineering from the South Dakota School of Mines and Technology and was a Dean's list student in the Geochemistry curriculum at the University of South Dakota. After graduation Bradshaw worked in the oil and gas industry for companies such as Tenneco Oil. Since 1987, Bradshaw has been actively involved in mining exploration, primarily in Arizona. Mr. Montle stated, ''We are very pleased the Bradshaws will continue to lead the effort they began over two years ago through the identification and staking of the property. Both are highly capable, hands-on professionals with extensive experience in placer mining. We are optimistic that the Bradshaws will successfully transfer their extensive knowledge of placer mining to the complex ore processes LS Capital has been developing, thus enabling the Cochise subsidiary to recover quantities of precious metal over and above previous recoveries. Cochise Mining intends to conduct extensive third party chain-of-custody sampling and assaying on the property after the first of the year. LS Capital Corporation is a holding company with four junior exploration subsidiaries. Griffin Gold Group, Shoshone Mining Co., and Cochise Mining Corp. are currently working in conjunction with Desert Minerals, Inc. to develop a proprietary microfine precious metal extraction process. The subsidiaries' objective is to take head ore containing gold particles and extract, process, and produce economic quantities of gold and other precious metals. LS Capital continues to strategically pursue the acquisition of additional key license areas in the southeastern desert playas of California. Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, commodity prices of precious metals, increased levels of competition for the Company, perfection of extraction technology, the Company's dependency upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this release. For further updates and a current corporate profile, see www.otcfn.com or www.lscap.com. SOURCE: LS Capital Corporation

To: Chuca Marsh who wrote (2358)	11/25/1997 11:25:00 AM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 3594

Chuckie, the Chipleader, looks like IPM screwed the pooch for CHIP. If IPM came through, CHIP would be trading at $4-5 today on the desert dirt land rush news. The land holdings for placer desert sands now rivals Maxam. This appears to be in the same general area as GTH.V. When Naxos, CHIP, or Maxam show the path to extraction, CHIP could be the king of the dirt's with playa's and sand's. Montle does seem to be covering his bases nicely here. Maybe I won't go blind trading CHIP after all. <VBG>