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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: john who wrote (1566)	11/28/1997 4:13:00 PM
From: Donald F. DeKold	Read Replies (1) \| Respond to of 4718

Antares Press Release - Nov. 28, 1997 NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: ANTARES MINING AND EXPLORATION CORPORATION TSE SYMBOL: ANZ NOVEMBER 28, 1997 Antares Mining and Exploration Corporation Gold Equivalent Resource of 504,000 Ounces at Ojolali Property TORONTO, ONTARIO--Antares wishes to announce that it has defined a gold equivalent resource of 504,000 ounces at its 76.5 percent owned 31,644 hectare Ojolali property in Sumatra, Indonesia since drilling started in July. This is based on the reporting of assays from partially drilling two of the 34 known minralized zones. Six drills are currently active on the property and 8,022 metres of core drilling have been completed. Recent aeromagnetic survey results indicate that a 6,00 hectare portion of the Ojolali property consists of a hydrothermal plume. The area has a north/northeast strike and is arranged along a highly prospective major rift and extensional structure. Partial Resource Estimates For The Two Zones Initial assays have resulted in a resource estimate of 336,000 equivalent ounces of gold at the South Tambang zone and 168,000 equivalent gold ounces at the Jambi zone. Open Pit Potential Management believes that both the Jambi and South Tambang zones are potential low cost open pittable opportunities. Metallurgical analysis of the mineralogy of these zones has commenced. SOUTH TAMBANG ZONE Drilling to date on the South Tambang zone has defined a gold equivalent resource of 336,000 ounces (19,178,847 ounces silver equivalent) represented by 3,886,000 tonnes of mineralization with a gold equivalent grade of 2.69 grams per tonne (0.57 g/tonne gold and 121 g/tonnne silver) using a 57:1 silver/gold conversion and assuming a bulk density ratio of 3.14 tonnes per cubic metre. The South Tambang resource is based on drilling conducted over 700 metres of strike length which is but one third of the total estimated strike length of at least 2,000 metres. The South Tambang zone is a 6.4 to 28 metres thick quartz sulphide vein system, dipping approximately 45 degrees to the west and containing silver, gold and some base metal sulphides. Over 2,700 metres of core drilling has been completed to date on this zone. JAMBI ZONE Based on drilling completed to date on the Jambi zone, a gold equivalent resource of 168,000 ounces has been defined, represented by 2,909,000 tonnes of oxidised mineralization with a gold equivalent grade of 1.8 grams per tonne (1.62 g/tonne gold and 10g/tonne silver) assuming a bulk density ratio of 2.53 tonnes per cubic metre. To date, the Jambi anomaly has been drill tested over 400 metres of strike along a target zone in excess of 1,100, metres in length adn 200 metres wide. The zone consists of gold and silver minralized oxidised volcanics on which over 1,900 metres of core drilling has been completed to date. New Drilling Targets The following areas have yielded encouraging results based on hard rock sampling, geochemical anomalies and aeromagnetic signature and therefore represent excellent drill targets. WUJUN ZONE The Wujun zone is located approximately 1,000 metres to the west and parallel to the Tambang zone. Based on the surface expression of the vein, Wujun presents an exciting target as it appears to be of a larger magnitude than Tambang, with a strike length estimated to exceed 2,500 metres with a surface width of up to 200 metres. SIMAN ZONE The Siman zone is located about 300 metres south of the Tambang zone and may well be a continuation of this latter zone. The surface expression of this zone has been traced for over 700 metres and is still open to the south. KRESNA ZONE Surveying and mapping of this zone is currently underway which has been interpreted to be in excess of 500 metres long and 40 metres wide with good depth potential. The Kresna zone has radiometric and magnetic signatures suggesting that this zone is located adjacent to a large intrusive body. Airborne Magnetic Survey Results of the combined aeromagnetic and radiometric studies of the Ojolali property, together with detailed field geological mapping, indicate that the property is host to an epithermal system of considerable magnitude containing in excess of 34 known mineralized zones, only 20 of which were known before these studies were completed. Aeromagnetic and radiometric results, together with mapping completed, have outlined a series of intrusive corridors, several of which are consistent with artisanal workings and exploration follow up is underway. Concluding Remarks It should be emphasized that the excellent results reflected above were obtained despite adverse drought and smog conditions necessitating the drilling and tapping of adequate artesian water resources. These encouraging results are therefore indicative of the professionalism of the exploration team and the high degree of cooperation prevailing between the exploration team and the local population. In addition to Antares' 76.5 percent ownership of the Ojolali property, carried interests in the property are held by Coleville Resources Limited (CLL - ASE) and Indonesian partners of 13.5 percent and 10 percent respectively. Maps of the drilling programs on the various Ojolali zones are available on request. Strathcona Mineral Services Limited of Toronto, Consulting Geologists, have been engaged by Antares to audit drill results from Antares' exploration properties on an annual basis and report thereon to the company's board. In addition to its 76.5 percent interest in, and operatorship of, the Ojolali silver and gold property, Antares has a 24.75 percent benefical interest in Rappa Holdings (Proprietary) Ltd., a South African based gold recovery operation; a 37 percent interest in teh producing Lady Lina gold mine in Zimbabwe; and a joint venture interest with AGC Americas Gold Corporation (AGA - VSE) in the 235 square kilometre promising Toodoggone properties in north central British Columbia where Antares has now assumed operatorship. -30-