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Gold/Mining/Energy : Ballad Ent.;BDC.Vancouver -- Ignore unavailable to you. Want to Upgrade?

To: jabber who wrote (69)	12/22/1997 4:46:00 PM
From: arizona_ice_tea	Respond to of 107

Ballad Enterprises Ltd. is pleased to announce it has entered into an option agreement to acquire a 100% interest in the Las Princesas property, located four kilometres NW of Quiruvilca, in the La Libertad Department, Northern Peru. The option agreement includes payments over two years, totalling US$300,000. In addition, a two percent royalty is payable on the first 500,000 ounces of gold equivalent produced and one percent on any production above that amount. A finder's fee is payable. The Las Princesas Property consists of the 600 ha Las Princesas and the adjacent 600 ha Reyna concessions. It is strategically located on a northwest trending structural zone of altered porphyry intrusions which includes Pan American Silver's Quiruvilca Mine, and Oroperu/Pan American Silver's Tres Cruces project, which is a further 4 kilometres to the southeast. The regional geology eastward from Quiruvilca comprises a thick clastic sequence of Lower Cretaceous age, better known as the Goyllarisquizga Group. Four to five kilometres east of this mining centre there is a major tectonic break. To the west lie Calipuy Volcanics of Middle Tertiary age, intruded here and there by dacite porphyry stocks, sills and dikes. Occasionally, apophysis of similar composition cut the eastern sedimentary block. On a regional scale, there seems to exist two major tectonic trends that controlled the emplacement of dacite porphyry stocks, dikes and subsequently played an important role in hydrothermal alteration and disseminated gold and silver mineral deposition. East of Quiruvilca, one of the major NW tectonic trends hosts the El Arenal and Virgen de Fatima disseminated gold occurrences. Both have been recently drilled by Cambior and Gitennes respectively with results which suggest these prospects have significant potential to host one million ounces of gold equivalent. The other major tectonic trend passing through the Tres Cruces Project - Quiruvilca Mine - Las Princesas property hosts dacite prophyry stocks that intrude andesite flows and volcaniclastics of the Middle Tertiary Volcanics of the Calipuy Group. This trend hosts the Quiruvilca Mine, a vein hosted silver, lead, zinc and copper mine. Current reserves are approximately 2.6 million tonnes grading 224 gm/T silver, 0.43% copper, 1.72% lead and 5.14% zinc. For the past seven years the reported annual production has averaged 420,000 tonnes of ore. The Tres Cruces project is hosted in tuffs which underlie the silica cap and opaline silica reccia on the surface in the Tertiary Calipuy Volcanic. This type of formation hosts the Pierina deposit. Oroperu is the operator of the 50/50 joint venture. Results to date include hole # 97-29 with a reported 208.5 metre interval grading 3.22g Au/T which included an interval of 45 metres of 11.0 gm Au/T. Grades are, reportedly, mostly in the 1-2 gram range with typical intercepts around 40 metres. These are comparable to those at the Yanacocha Gold Mine, the largest in Latin America located in Northern Peru. At Las Princesas, reconnaissance-scale geologic mapping and 46 chip-channel rock samples have defined a zone of acid-leached dacite porphyry measuring 700 metres by between 250 and 500 metres wide. Assays of the samples within this zone range from 0.1 gm/T to a high of 4.8 gm/T gold and are highly anomalous in silver. A second acid-leach alteration zone 300 metres to the southeast measures 400 metres by 50 to 100 metres and is strongly structurally controlled. Initial sampling results from this newly discovered second zone are pending. Based on a preliminary examination of the Las Princesas property, Ballad's consulting geologist reports that there is good potential for an economic bulk-mineable, heap-leach gold-silver deposit. Phase one of a recommended two phase exploration program consisting of detailed mapping, grid rock sampling and trenching is underway. Phase two of the exploration programs will consist of drilling targets identified in Phase 1. Ballad is encouraged by initial results at Las Princesas's project. Ballad's exploration efforts are being focused on this project and on the Cruz de Mayo project near the Pierina deposit with a view to establishing drill targets and implementing a drilling program for early 1998. Ballad is currently completing arrangements for the construction of approximately 7.5 km of road in January and February prior to drilling. The Option agreement is subject to accept for filing by the Vancouver Stock Exchange. ************************************************************** Ballad Enterprises Ltd. VSE - BDC Suite 501 - 905 West Pender Street 604-682-7159 Vancouver, BC, V6C 1L6 N.America : 1-888-880-2288 www.canvest.com/ballad/ Gold Exploration in South America ballad@express.ca Questions ? Investors? E-mail us. **************************************************************

To: jabber who wrote (69)	12/23/1997 2:19:00 PM
From: arizona_ice_tea	Read Replies (1) \| Respond to of 107

Ballad announces that it has filed its interim financial statements for the 9 month period ended September 30, 1997. During the quarter, Ballad closed its acquisition of TVX Minera del Peru S.A. with TVX Gold Inc. TVX Minera del Peru S.A. holds a 100% interest in 35 property areas located in Peru totalling 31,100 hectares. Since March, 1997, Ballad has worked extensively on reconnaissance geological mapping and sampling on a number of these property areas. Based on results to date, it has conducted aggressive exploration and development on three of those properties with a view to establishing drill targets. Ballad also continued to explore its other existing Peruvian and Brazilian properties and to conduct exploration in Peru on potential new acquisitions. The initial phase of Ballad's exploration program on its Anaua concessions in Northern Brazil has been completed. Ballad is evaluating the results and expects to meet with its joint venture partner, Vannessa Ventures Ltd., in January to review the project. Subsequent to quarter-end, Ballad entered into agreements providing for an option to acquire a 100% interest in a 100 hectare gold mining property, the Santa Cruz de Mayo concession, which is situated approximately 700 metres north-west of Barrick Gold Corp.'s Pierina gold deposit in Northern Peru. The acquisition is subject to Vancouver Stock Exchange acceptance for filing. Ballad also entered into an option to acquire a 100% interest (subject to a maximum 2% royalty) in two adjacent property areas totalling 1200 hectares which are located in the Quiruvilca mining district in North Central Peru. This acquisition is subject to Vancouver Stock Exchange acceptance for filing. The properties, called the Las Princesas Project, have good potential to host a large tonnage, low grade silver/gold deposit. Ballad will be focusing its exploration effort on the newly acquired Las Princesas Project, and secondarily on the Santa Cruz de Mayo and Fabiola properties. Ballad has targeted a March/April drilling program on the Las Princesas subject to continued favourable exploration results, the completion of an access road and general market conditions. Ballad is also focusing on negotiating the possible joint venture development of the Santa Cruz de Mayo concession. At September 30, 1997, Ballad held in excess of $1.5 million in cash and term deposits and had resource properties valued at $7,242,730. BALLAD ENTERPRISES LTD. per:"Anthony J. Beruschi" Anthony J. Beruschi, President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. ************************************************************** Ballad Enterprises Ltd. VSE - BDC Suite 501 - 905 West Pender Street 604-682-7159 Vancouver, BC, V6C 1L6 N.America : 1-888-880-2288 www.canvest.com/ballad/ Gold Exploration in South America ballad@express.ca Questions ? Investors? E-mail us. **************************************************************