To: Carlton G Glenn who wrote (5626 ) 1/13/1998 11:48:00 AM From: Galirayo Read Replies (2) | Respond to of 9262
[ BCMD ] Carl. Catch the Wave ?? Tuesday January 13, 9:38 am Eastern Time Company Press Release Brush Creek Recommended a Buy by Elliott Wave International Analyst GRASS VALLEY, Calif.--(BUSINESS WIRE)--Jan. 13, 1998-- Brush Creek Mining a(NASDAQ:BCMD - news) Brush Creek Mining and Development Co., Inc. (the Company) is pleased to call attention to an interview in the financial press that took place yesterday. The interview featured Steven Porter, the Sectors Analyst at Elliott Wave International and Larry Strauss, Senior Mining Analyst at Cannacord Capital Corporation. During the course of the interview, Larry Strauss claimed: ''The longer gold remains depressed, the more powerful the move to the upside will likely be. Consider that over half of current gold production is uneconomical at today's prices.'' In response to the following question: ''What is your near term industry outlook? Which gold mining stocks are you recommending and/or avoiding?'' Steven Porter responded: ''Canyon Resources, Royal Oak, and Brush Creek are enticing plays that I would accumulate at current levels. I look at them as core positions as we are well into the crisis stage. The worst of the damage has already been seen in these junior stocks. They represent some hard value as opposed to the glut of paper assets choking the market now.'' At its recent annual meeting on January 8 Brush Creek presented the report of the well regarded consultant, Odin Strandberg P.E whom the Company hired to asses its projects along the Melones fault of the California Mother Lode. Mr. Strandberg has estimated that total costs of production, including capital and development costs, will be less than $200 per ounce. The Company believes it is important to be a low cost producer, and is pleased to be recommended by so well-known a technician as Steven Porter. Brush Creek controls nine historic gold mines in the Alleghany-Downieville gold district of Northern California, which produced more than 12 million ounces of placer and 2 million ounces of hard rock gold. The Company also controls more than 4000 acres of potentially diamondiferous ground near La Porte California. -------------------------------------------------------------------------------- Contact: Brush Creek Mining and Development Co., Inc. Lionel Gosselin, 888/272-7335 or Brush Creek Mining and Development Co., Inc. Jim Chapin, 916/477-5961 --------------------------------------------------------------------------------