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

To: arizona_ice_tea who wrote (74)	2/9/1998 2:36:00 PM
From: Renato Pujatti	Read Replies (1) \| Respond to of 107

Hi to all I've received some news per e-mail from Ballad. I think, they really do a good job down there. Hopefully, we see some results in spring. Make your own opinion. "Ballad continues to work hard at evaluating our previous holdings and we have identified several concessions which look very prospective and we intend to conduct further exploration on them. These include the following: 1. Las Princesas - purchased in December, 1997 has turned our to be our most prospective property and we are in the process of organizing a drilling program on it. This process is being delayed by severe rainstorms being experienced throughout Peru at this time. The rainy season should be over by the end of March. In the meantime, we are soliciting competitive tenders for road building to create proper access for the drilling equipment, and on a 6 hole 1250 meter drill program on the property. Further activity on the Las Princesas property will of course depend on results from the initial drill program. We are very optimistic about the potential of this property. 2. A second property recommended as a property we should drill is the Fabiola concession which is adjacent to Barrick's Peirina gold deposit. The timing on further exploration is dependent upon our results at Las Princesas. 3. A third property which warrants further exploration is Santa Cruz de Mayo which lies within the boundaries of the concessions which host Barrick's Peirina deposit. Further work must be done on this property to identify potential drill targets and further exploration will be subject to results from Las Princesas. 4. There are several other concessions among those purchased as part of the TVX Gold Agreement last year and first pass examination of these properties reveal favourable geology, alteration and mineralization. Further exploration work on these properties is also warranted. Unfortunately, we do not have a crystal ball to be able to tell you what our share price will do over he next several months, but, hopefully, with good results from drilling the Las Princesas property will result in an increase from current levels. We are excited about the possibilities for Ballad based on our extensive property holdings and results from initial exploration efforts." Keep smiling... Renato