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

To: rdww who wrote (235)	3/15/1998 8:56:00 AM
From: dave brown	Read Replies (1) \| Respond to of 401

As a former shareholder I think this is a great project, but lets face it the market has already accounted for a deposit 500m by 500m. If you look at the borehole plan, some of these holes are within the 500m area and the grades and widths are beginning to drop off. Furthermore, the last assays didn't expand the open pit potential of the upper zone concluding underground mining methods will be used. On a flat laying deposit as we have here, U/G methods are very expensive. IMHO, with a $130 million + market capitalization, this stock is fully valued given the information available today.

To: rdww who wrote (235)	3/16/1998 4:54:00 PM
From: Garry K.	Respond to of 401

PRESS RELEASE..... Attention Business Editors: WESTERN COPPER AND KENNECOTT COMPLETE FORMATION OF STRATEGIC ALLIANCE VANCOUVER, March 16 /CNW/ - Western Copper Holdings Ltd. (''Western''), Kennecott Exploration Co. and Minera Kennecott S.A. de C.V. (''Kennecott'') are pleased to announce the completion of the formation of a Strategic Alliance to explore and develop Mexican mineral properties (see initial announcement in News Release of February 2, 1998). The main components of the Strategic Alliance are: 1. Kennecott has subscribed for, and Western has issued, 250,000 shares of Western, at a price of $10.00 per share, and 250,000 share purchase warrants exercisable for two years at $12.00 per share. The shares have a one year hold period. 2. Western has acquired from Kennecott, for a total of 995,740 shares of Western, the Penasquito Project, a silver, gold, lead, zinc property located in the Concepcion del Oro district in the northeast corner of the State of Zacatecas. The mineralization/alteration system has dimensions in excess of 9 square kilometers and lies beneath 30 meters of alluvial cover. Since 1994 Minera Kennecott completed major geochemical and geophysical surveys and drilled 71 holes totalling 23,495 meters. This work identified one zone of probable economic silver, lead and zinc mineralization at Chili Colorado as well as two large breccia pipes and several large outlying targets with high grade economic intercepts of silver, lead, zinc and gold mineralization. Western plans to begin a minimum 3,000 meter drilling program within 30 days to test the extent of these previously defined mineralized zones and to evaluate several untested geophysical targets. 3. The two parties have signed a Property Rights Agreement whereby Western, upon expending a minimum of US$1,000,000 in year one of a five year term, will obtain title as to 100% to the Faja de Plata properties, currently under option from Kennecott, and to two additional properties also covered by the Property Rights Agreement. Each of these properties is subject to a one time 51% reacquisition right or a retained royalty, both held by Kennecott. In anticipation of forming the Strategic Alliance, Western has been conducting geophysical surveys of certain of the properties. Excellent exploration targets have been identified which will be tested by diamond drilling in the near future. -30- For further information: Mike Halvorson or John Campbell, (403) 414-0828, web site: www.westerncopper.com WESTERN COPPER HOLDINGS LIMITED has 25 releases in this database.