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Gold/Mining/Energy : ALMADEN -- Ignore unavailable to you. Want to Upgrade?

To: kimberley who wrote (100)	2/13/1998 1:10:00 PM
From: Thomas Boychuk	Read Replies (1) \| Respond to of 119

Here is the latest news on the drilling on the Lac De Gras property which has just commenced.... NEWS RELEASE February 12, 1998 ATW DRILLING COMMENCES Kennecott Canada Exploration Inc. (KCEI) has informed ATW Resources Ltd. (of which Almaden Resources Corporation has a net 14% carried interest to production from the first mine) that RC drilling has commenced on the ATW property, at Mackay Lake in the Northwest Territories. The drilling is designed to follow-up a prominent indicator mineral in till anomaly and it will consist of a fence of holes drilled perpendicular to the trend of the anomaly. Each hole will be stopped once it has passed through the till into 2-5m of bedrock. The till in general averages about 10m in depth and is sampled at 1m intervals. The samples once collected are then rushed to the KCEI laboratory at Thunder Bay for high priority processing. The first batch has already arrived. The presence of indicator minerals will show that their source is up ice or to the East of the drill fence. The absence of indicator minerals will demonstrate that the source is down ice or to the west of the fence. Drilling of the first fence will be completed in about ten days. The drill rig will then move off the property. There is potential for the drill to return at a later date once the laboratory results are received where it will drill extra fences. Once this work has narrowed down the general location of the source area, a close (75m) space magnetic and EM survey will be conducted in that area for further target definition. Any kimberlite like targets will be drilled tested with an heli-portable NQ size core rig. On behalf of the Board, "James E. McInnes" James E. McInnes Director