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Gold/Mining/Energy : LAORF La Teko to be bought by Silverado Mines -- Ignore unavailable to you. Want to Upgrade?

To: Stan Greene who wrote (12)	3/31/1998 12:25:00 PM
From: Stan Greene	Respond to of 25

Hello, Looks like I finally have an answer as to what La Teko's been up to. Just read this at Stock House but it should be on their website lateko.com as well. -------------------------- Corporate Bulletin La Teko Resources Ltd. (LAORF-NASDAQ, LAO-VSE) announces that it has received notice from Silverado Gold Mines Ltd. ("Silverado") that Silverado wishes to terminate its option to purchase La Teko's Ryan Lode property, Fairbanks Mining District, Alaska, effective immediately. Ryan Lode contains previously announced proven and probable reserves of 14.5 million tons grading 0.056 oz. Au per ton (1.9 gm Au per tonne) with a strip ratio of 3.8 tons of waste per ton of ore, within which is a higher grade core of 4.6 million tons grading .09 oz. Au per ton (3.1 gm Au per ton) with a strip ratio of 7.1 tons of waste per ton of ore. During the fall of 1997, Silverado completed a program of 8,855 feet of drilling in 38 drill holes within the area of the known reserve. According to Silverado, this work confirmed the continuity of gold mineralization above .1 oz. Au per ton, supporting the concept of a small tonnage, high grade operation. La Teko will now examine other options regarding the development of Ryan Lode, either through ongoing development of the property by La Teko or through sale or joint venture to a third party. In other news, the Company has closed its option to acquire a 100% interest in the Discovery Gulch property in the Circle Mining District, 100 miles northeast of Fairbanks, Alaska. In order to earn this interest, La Teko must pay the vendors US$10,000 in 1998 and US$35,000 annually thereafter. Work requirements are US$35,000 in 1998, US$100,000 in 1999 and increasing in US$50,000 increments annually thereafter. The option can be exercised upon completion of a feasibility study and payment of US$300,000. The vendors retain a 2% NSR. In 1997, work by La Teko identified a strong gold-in-soil geochemical anomaly on the Discovery Gulch property, which appears to indicate a mineralized bedrock source. In an area 1,000 feet long and up to 500 feet wide, 44 of the 78 soil samples returned better than 100 parts per billion gold and elevated arsenic values. Plans for the 1998 field season include additional geochemical sampling and trenching, followed by a drilling program if warranted. On behalf of the Board of Directors "Gerald G. Carlson" Gerald G. Carlson, Ph.D., P.Eng. President & CEO The Vancouver Stock Exchange neither approves nor disapproves of the information contained herein.