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Gold/Mining/Energy : Western Copper Holdings Ltd. T.WTC -- Ignore unavailable to you. Want to Upgrade?

To: brian krause who wrote (122)	1/12/1998 7:33:00 PM
From: chevalier	Respond to of 401

Very significant results. Should be a fruitful day for all tomorrow

To: brian krause who wrote (122)	1/12/1998 7:52:00 PM
From: Mr Metals	Read Replies (1) \| Respond to of 401

Subj: Stockwatch: Western Copper Holdings Limited - News Release Date: 98-01-12 19:47:27 EST From: newsout@canada-stockwatch.com El Salvador project drill results Western Copper Holdings Limited WTC Shares issued 10,706,649 Jan 9 close $4.70 Mon 12 Jan 98 News Release See Teck Corp (TEK.B) News Release Mr Norman Keevil reports Teck Corp and Western Copper Holding have received significant assay results from drilling completed late in 1997 at the El Salvador project, located in Zacatecas state, Mexico. Six holes have been drilled into the newly discovered San Nicolas massive sulphide zone, and all have intersected impressive thicknesses of sulphide mineralization with significant values of copper, zinc, silver and gold. Hole SAL-25 was previously announced. Holes 29 and 24 (completed subsequently) are 100 and 200m south of hole 25, respectively. Holes 30, 31 and 32 are 100m north, west and east of hole 25, respectively. Holes 26, 27 and 28 were drilled elsewhere on the El Salvador property. Some of the more significant new intersections are: Thick- From - To ness Cu Zn Hole (m) (m) (%) (%) ------ ------------- ------ ----- ----- SAL-29 188.0 - 273.5 85.5 0.49 3.40 Incl 195.5 - 215.0 19.5 0.27 5.27 SAL-31 165.7 - 195.5 29.8 2.06 15.88 And 249.5 - 402.5 153.0 1.78 0.23 SAL-29 188.0 - 273.5 85.5 67.2 1.18 Incl 195.5 - 215.0 19.5 165.3 2.37 SAL-31 165.7 - 195.5 29.8 73.5 1.26 And 249.5 - 402.5 153.0 12.3 Trace The El Salvador project comprises a 225 sq km area of mining concessions controlled by the Teck/Western joint venture about 60km southeast of the city of Zacatecas in north central Mexico. The project lies at an elevation of 2100m in an area of gently rolling topography, within a few kilometres of two paved highways and electrical transmission lines. Teck and Western Copper have been actively exploring the area since mid-1996. Previous work focused on mineralization identified at the original El Salvador zone, where 26 diamond drill holes have been completed, defining a relatively flat lying zone of massive sulphide mineralization varying from one to 13m thick over a 150m wide by 400m long trend. Property-wide work expanded in 1997, and the San Nicolas area was identified as prospective based on limited exposures of favourable altered volcanic rocks. A followup geophysical survey identified a strong induced polarization chargeability anomaly in the area, measuring about 500m by 500m in plan, thought to represent sulphides at depth. The initial hole into the anomaly (SAL-25) intersected 175m of massive sulphide mineralization starting at a depth of 205m. There is no surface expression of the mineralization over the San Nicolas zone. The El Salvador project is a joint venture between Teck (55%) and Western Copper (45%), with Teck as operator. The joint venture controls the mining concessions within a 225 sq km area of interest. The San Nicolas discovery is on mining concessions owned by Luismin, SA de CV in which the Teck/Western JV has the right to earn a 75% interest. Upon completion of a feasibility study, Luismin may elect to participate at 25% by agreeing to arrange its share of production financing, or dilute to a 15% interest. Teck has the option to increase its interest in the Teck/Western JV to 65% by arranging Western's share of production financing and can purchase a further 5% interest in the JV based on the project's net present value using a 15% discount rate at feasibility. An aggressive continuing exploration program for the El Salvador project is planned to commence before the end of January 1998, to define the extent of mineralization around the initial drilling at the San Nicolas discovery, and to test other targets areas defined on the property by preliminary surface work. A metallurgical program will also commence on material from the San Nicolas zone. WARNING: The company relies on litigation protection for "forward looking" statements. DRILLING RESULTS FROM SAN NICOLAS ZONE AS OF JANUARY 12 1998 Thick- From - To ness Cu Zn Hole (m) (m) (%) (%) ------ ------------- ------ ----- ----- SAL-25 207.10- 382.5 175.40 0.53 1.50 Incl 207.1 - 235.5 28.4 0.64 5.53 Incl 235.5 - 381.0 145.5 0.50 0.72 SAL-24 399.2 - 458.3 59.1 1.66 0.36 Incl 423.2 - 458.3 35.1 2.02 0.55 SAL-29 188.0 - 496.0 308.0 1.31 1.16 Incl 188.0 - 273.5 85.5 0.49 3.40 Incl 195.5 - 215.0 19.5 0.27 5.27 Incl 273.5 - 306.5 33.0 0.73 0.31 Incl 306.5 - 348.5 42.0 3.07 Trace Incl 333.5 - 348.5 15.0 5.55 Trace Incl 360.5 - 496.5 135.5 1.53 Trace Incl 363.5 - 378.5 15.0 3.39 Trace SAL-30 245.0 - 278.0 33.0 1.89 Trace Incl 264.5 - 272.0 7.5 3.71 Trace SAL-31 165.7 - 434.0 268.3 1.44 2.53 Incl 165.7 - 195.5 29.8 2.06 15.88 Incl 173.8 - 195.5 21.7 2.31 20.83 Incl 195.5 - 249.5 54.0 0.67 3.05 Incl 204.5 - 218.0 13.5 0.58 5.77 And 249.5 - 402.5 153.0 1.78 0.23 Incl 306.5 - 351.5 45.0 2.75 Trace Incl 402.4 - 434.0 31.5 0.48 0.22 SAL-32 247.2 - 329.0 81.8 0.42 3.78 Incl 247.2 - 286.0 38.8 0.30 5.60 SAL-25 207.10- 382.5 175.40 19.4 0.61 Incl 207.1 - 235.5 28.4 47.6 1.20 Incl 235.5 - 381.0 145.5 13.9 0.50 SAL-24 399.2 - 458.3 59.1 9.1 Trace Incl 423.2 - 458.3 35.1 12.0 Trace SAL-29 188.0 - 496.0 308.0 23.6 0.37 Incl 188.0 - 273.5 85.5 67.2 1.18 Incl 195.5 - 215.0 19.5 165.3 2.37 Incl 273.5 - 306.5 33.0 7.6 0.16 Incl 306.5 - 348.5 42.0 8.7 Trace Incl 333.5 - 348.5 15.0 11.0 Trace Incl 360.5 - 496.5 135.5 6.7 Trace Incl 363.5 - 378.5 15.0 5.7 Trace SAL-30 245.0 - 278.0 33.0 4.7 Trace Incl 264.5 - 272.0 7.5 7.2 Trace SAL-31 165.7 - 434.0 268.3 18.71 0.39 Incl 165.7 - 195.5 29.8 73.5 1.26 Incl 173.8 - 195.5 21.7 92.9 1.59 Incl 195.5 - 249.5 54.0 21.7 0.82 Incl 204.5 - 218.0 13.5 44.1 1.68 And 249.5 - 402.5 153.0 9.9 Trace Incl 306.5 - 351.5 45.0 11.0 Trace Incl 402.4 - 434.0 31.5 4.36 0.10 SAL-32 247.2 - 329.0 81.8 51.7 1.12 Incl 247.2 - 286.0 38.8 68.0 1.52 (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals -