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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Larry Brubaker who wrote (3126)	11/25/1997 11:15:00 AM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 11603

Maxam Gold Corp. Announces: 1. Higher Grade Ore Zones Confirmed 2. Assay Results Confirmed by Two Independent Registered Laboratories Using Fire Assays HIGHER GRADE ORE ZONES EAST PEORIA, Ill.--(BUSINESS WIRE)--Nov. 25, 1997-- Maxam's (OTC BB:MXAM - news) contracted Geophysical Survey has revealed ore zones of greater value than previous drill hole results indicated. Hewlett Mineral Management reported '' ... (split) samples were sent to two registered labs ... results were converted to troy ounces/ton head ore, as follows: Maxam (Cooley) Internal 0.346 Troy ounces Gold/ton head ore. XRAL (Toronto) 0.358 Troy ounces Gold/ton head ore. SkyLine (Tucson) 0.360 Troy ounces Gold/ton head ore. These (and other results) confirm the validity of the Maxam geophysical technique for determining higher-grade precious metal paleochannels which are now guiding our development work, additional drilling, and the production grade control. The registered laboratories utilized for these fire assays for Gold/Silver are: Skyline Labs XRAL ..." Hewlett Mineral Management further reports the indicated ore reserves in these High Grade Ore zones to be 1,453,221 tons, using the grade of .346 Troy ounces Gold/ton head ore. Production cost of Gold in THE HIGHER GRADE ORE ZONES ONLY is projected at $21.68 per Troy ounce. As reported in prior press releases, MAXAM has identified Silver, certain noble metals, non-precious metals, and minerals in its analyses. Recovery of these elements is not included in the above production cost projection. The complete report, credentials of the Registered Laboratories, and the registered assayers can be found on the Maxam Web site. MAXAM (COOLEY) LEACH RESULTS CONFIRMED BY TWO INDEPENDENT REGISTERED LABORATORIES BY FIRE ASSAY As reported above, one of the three sample splits was used for the internal leach test conducted by Maxam consultant, Max Cooley. The second sample was sent to an Arizona Registered Laboratory. The third sample was sent to a Canadian Registered Laboratory. The Fire Assays conducted by the laboratories produced assessments similar to those learned from Cooley's analysis. This information confirms Maxam's confidence in its internal assay procedures. SAFE HARBOR STATEMENT-Actual results from the above disclosures could differ materially from projection, as results from economic factors, geological factors, operations factors, government regulations, or factors relied upon from independent sources, may either negatively or positively impact exploration or mining progress. ------------------------------------------------------------------------ Contact: Maxam Gold Corp. Dale Runyon, 309/699-8725 Fax: 309/699-1275 Al Hubbard, 602/314-4907 Fax: 602/314-0799