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Gold/Mining/Energy : Cross Lake Minerals CRN -- Ignore unavailable to you. Want to Upgrade?

To: ando who wrote (944)	12/22/1997 9:27:00 AM
From: Surething	Respond to of 3650

EWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: CROSS LAKE MINERALS LTD. VSE SYMBOL: CRN DECEMBER 22, 1997 Copper Zone Extended On The Sheraton-Timmins Property-Large VMS System Indicated VANCOUVER, BRITISH COLUMBIA--CROSS LAKE MINERALS LTD. (the "Company") wishes to announce that recent drilling has identified a zone of copper mineralization, extending over 300 metres (984 feet) and open at depth and to the west, on its Sheraton-Timmins property. Five holes, CLS 97-17, 97-21, 97-23, 97-29 and 97-31, have intersected the zone to date, with widths ranging from 3.0 metres (9.8 feet) in the east end (Hole CLS 97-21) to 19 metres (62.3 feet) in Hole CLS 97-31 to the west. Initial results indicate that widths increase to the west and to depth and the target continues to the west. The copper mineralization (chalcopyrite) occurs as strataform "beds", stringers and disseminations hosted in black chlorite alteration, siliceous (rhyolite) fragmental rocks and bedded-banded siliceous (cherty) rhyolite volcanics, all of which are the same favourable rocks that host the Timmins (Kidd Creek and Kamiskotia), Noranda, Thomson Bousquet, Louvicourt and Mattagami deposits. The upper edge of the system that had been previously indicated by Holes CLS 97-1 and 97-12 has now been intersected by CLS 97-25, all of which have both the black chlorite alteration and siliceous cherty host rocks thickening down dip to depth as indicated by CLS 97-17, 97-23, 97-29 and 97-31. The Company has received assay results from three additional holes, which extend this copper zone and include the following significant intersections: /T/ Copper Zone Core Length Zinc Copper Silver Gold HOLE Interval metres feet percent percent grams grams /tonne /tonne ------------------------------------------------------------------ CLS 97-25 254.0-257.0 3.0 9.8 - 2.21 8.1 - 287.0-290.0 3.0 9.8 - 1.95 7.8 - CLS 97-29 289.0-336.5 47.5 155.8 - 1.07 6.3 - Incl 293.0-302.0 9.0 29.5 - 3.05 11.0 - CLS 97-31 346.0-365.0 19.0 62.3 - 1.38 11.2 - Incl 349.8-357.5 7.7 25.3 - 2.42 14.0 - Further assays are pending below 365 metres. /T/ As in many other VMS systems, zinc mineralization occurs to the side of the copper zone. This was the case in Hole CLS 97-16 (6.7 percent zinc, 1.86 percent lead, 215 grams silver over 33 metres) and has been confirmed in Hole CLS 97-24, the significant results of which are set out below. /T/ Zinc Zone Core Length Zinc Copper Silver Gold HOLE Interval metres feet percent percent grams grams /tonne /tonne ------------------------------------------------------------------ CLS 97-24 149.0-153.5 4.5 14.8 1.04 - 3.7 - 180.5-192.5 12.0 39.4 2.80 0.12 51.6 - 246.5-248.7 2.2 7.2 0.15 0.40 33.4 1.29 /T/ Silver mineralization is also associated with both the zinc and copper mineralization in the Cross Lake Zone, which is similar to the Kidd Creek Mine. Bornite, a higher grade copper mineral, has been noted in Hole CLS 97-31 within the chalcopyrite zone in the high silica rhyolite. Both the zinc and copper zones appear to plunge to the southwest and, as a result, both zones are open "along the plunge". A total of 19 holes (CLS 97-10, 97-18 to 97-35) are expected to be completed before Christmas in the current program. Results are pending for the nine remaining holes. With approximately $4.0 million in cash, the Company is well funded to continue drilling in the New Year. A schematic drill hole plan and longitudinal section, showing the above holes, are available upon request. In addition, subject to all necessary approvals, the Company has granted to two new employees, a consultant and a director, stock options for the purchase of up to 650,000 shares of the Company at an exercise price of $2.51 per share exercisable for a period of five years. ON BEHALF OF THE BOARD OF DIRECTORS CROSS LAKE MINERALS LTD. "Henry G. Ewanchuk" Henry G. Ewanchuk, Chairman & C.E.O.

To: ando who wrote (944)	12/22/1997 9:28:00 AM
From: JD	Read Replies (1) \| Respond to of 3650

Here's the new release. Copper zone extended on Sheraton-Timmons property Cross Lake Minerals Ltd CRN Shares issued 29,188,580 Dec 19 close $1.98 Mon 22 Dec 97 News Release Mr Henry Ewanchuk reports Recent drilling has identified a zone of copper mineralization, extending ever 300 metres (984 feet) and open at depth and to the west, on its Sheraton-Timmins property. Five holes, CLS 97-17, 97-21, 97-23, 97-29 and 97-31, have intersected the zone to date, with widths ranging from 3.0 metres (9.8 feet) in the east end (Hole CLS 97-21) to 19 metres (62.3 feet) in Hole CLS 97-31 to the west. Initial results indicate that widths increase to the west and to depth and the target continues to the west. The copper mineralization (chalcopyrite) occurs as strataform beds, stringers and disseminations hosted in black chlorite alteration, siliceous (rhyolite) fragmental rocks and bedded banded siliceous cherty) rhyolite volcanics, all of which are the same favourable rocks that host the Timmins (Kidd Creek and Kamiskotia), Noranda, Thomson Bousquet, Louvicourt and Mattagami deposits. The upper edge of the system that had been previously indicated by Holes CLS 97-1 and 97-12 has now been intersected by CLS 97-25, all of which have both the black chlorite alteration and siliceous cherty host rocks thickening down dip to depth as indicated by CLS 97-17, 97-23, 97-29 and 97-31. The company has received assay results from three additional holes, which extend this copper zone and include the following significant intersections: Copper Zone Core Cu Ag Hole Interval metres % g/t CLS 97-25 254.0-257.0 3.0 2.21 8.1 287.0-290-0 3.0 1.95 7.8 CLS 97-29 289.0-336.5 47.5 1.07 6.3 Incl 293.0-302.0 9.0 3.05 11.0 CLS 97-31 346.0-365.0 19.0 1.38 11.2 Incl 349.8-357.5 7.7 2.42 14.0 Further assays are pending below 365 metres. As in many other VMS systems, zinc mineralization occurs to the side of the copper zone. This was the case in Hole CLS 97-16 (6.7% zinc, 1.86% lead, 215 grams silver over 33 metres) and has been confirmed in Hole CLS 97-24, the significant results of which are set out below. Zinc Zone Core Zn Cu Ag Au Hole Interval metres % % g/t g/t CLS 97-24 149.0-153.5 4.5 1.04 - 3.7 - 180.5-192.5 12.0 2.80 0.12 51.6 - 246.5-248.7 2.2 0.15 0.40 33.4 1.29 Silver mineralization is also associated with both the zinc and copper mineralization in the Cross Lake Zone, which is similar to the Kidd Creek Mine. Bornite, a higher grade copper mineral, has been noted in Hole CLS 97-31 within the chalcopyrite zone in the high silica rhyolite. Both the zinc and copper zones appear to plunge to the southwest and, as a result, both zones are open "along the plunge". A total of 19 holes (CLS 97-10, 97-18 to 97-35) are expected to be completed before Christmas in the current program. Results are pending for the nine remaining holes. With approximately $4.0 million in cash, the Company is well funded to continue drilling in the New Year. A schematic drill hole plan and longitudinal section, showing the above holes, are available upon request. In addition, subject to all necessary approvals, the Company has granted to two new employees, a consultant and a director, stock options for the purchase of up to 650,000 shares of the Company at an exercise price of $2.51 per share exercisable for a period of five years. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com