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Gold/Mining/Energy : Diamonds in Alberta, Ashton, Pure Gold, Montello, New Cla -- Ignore unavailable to you. Want to Upgrade?

To: Leigh McBain who wrote (519)	3/24/1998 1:28:00 PM
From: philip trigiani	Read Replies (1) \| Respond to of 822

Attention Business Editors: BIRCH MOUNTAIN SIGNS INFORMATION SHARING AND COOPERATION AGREEMENT WITH SHELL CANADA AND BHP DIAMONDS CALGARY, March 24 /CNW/ - Birch Mountain Resources Ltd. (ASE:BMD) announces the signing of a sharing of information and cooperation agreement with Shell Canada Limited and its partner BHP Diamonds Inc. with regards to Shell's Lease 13 in northeast Alberta. Birch Mountain holds the Metallic and Industrial Mineral rights and Shell holds the bituminous sands rights for the area covered by Lease 13, 70 km north of Fort McMurray. This agreement provides a framework for cooperative development in an area where overlapping mineral interests exist. The agreement establishes a Steering Committee with two representatives from Birch Mountain and two representatives from Shell and BHP. The parties will exchange technical data and other information and develop recommendations for cooperative approaches to mining to be considered by the boards of directors of Shell, BHP and Birch Mountain. This agreement is similar to an agreement between Birch Mountain and Syncrude Canada which was implemented last year. ''These agreements offer the opportunity to enhance the total resource production from the Athabasca region,'' explains Birch Mountain's President Doug Rowe, ''This is the first step towards the cooperative development of oil sands and precious and other metals from the same lease''. Birch Mountain is exploring for precious metals and diamonds in Athabasca and has announced gold and platinum assay results from the area. Drill targets are being identified by integrating airborne magnetic data with surface and subsurface geophysical and geological data, including examination of 150 cores obtained from Syncrude. Major structures in the vicinity of platinum and gold intersections in drill hole 11-7-AE-9610W4, which fire assayed 2.2 - 4.9 grams/tonne platinum and 0.2 grams/tonne gold, have been identified and mapped. Ground EM surveys are planned in order to follow conductive zones into the fault systems in preparation for final drill target selection. In addition to Athabasca, Birch Mountain is exploring for large-tonnage deposits of gold, precious and base metal in the Dawson Bay region of Manitoba, at Swift River in the southern Yukon, and in West Kalimantan in the Republic of Indonesia. Birch Mountain announces that it has repriced an aggregate of 680,000 incentive stock options which were previously issued to employees and directors of Birch Mountain on January 16, 1996, February 1, 1997 and March 24, 1997, with exercise prices ranging from $2.20 to $2.75 per share to a new exercise price of $0.70 per share. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. %SEDAR: 00003909E -30- For further information: Doug Rowe, President and CEO or Jane Quinn, Shareholder Services, Birch Mountain Resources Ltd., (403) 262-1838, Fax: (403) 263-9888, Home page birchmountain.com BIRCH MOUNTAIN RESOURCES LTD. has 16 releases in this database. ** Lytton and New Indigo recently announced a possible merger. Both of whom are jv with Birch Mountain.