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Gold/Mining/Energy : MIRANDA--MAD ON VSE -- Ignore unavailable to you. Want to Upgrade?

To: Bill Jackson who wrote (326)	3/31/1998 10:49:00 PM
From: Neil Irwin	Read Replies (1) \| Respond to of 462

Read the following on The Insider Report, courtesy of The StockHouse Online Journal ( stockhouse.com ) Neil. =-=-=-=-=-=-=-=- Miranda Industries [MAD.V] - Presidential Update We continue to monitor Miranda's progress as well and received the following update from its President, Dennis Higgs, vie e-mail earlier today: Hello Gentlemen, It has been a while since I have sent out a comment. However, it is time for me to bring you up to date. Here, in 'layman' terms, is a summary of what we have been doing on the new Sonora project, Mexico. We are pretty excited with the new project we have in Sonora. The environment here appears highly prospective for the discovery of more than one deposit of large tonnage gold and silver. To date there have been four discrete zones of mineralization identified on the property through geologic mapping and rock sampling. Bulk tonnage potential may exist in at least three of the four areas, while the fourth area may have potential to host a high-grade vein structure. High grade gold and silver approaching 1 ounce per ton gold and more than 15 ounces silver in grab samples have been found in float and outcrop. The recent exploration program consisted of taking over 1500 soil and rock samples, conducting detailed geologic mapping, and completing a ground magnetometer survey over a grid of 80 line-kilometres. A total of 185 rock chip samples were also collected. This first phase of exploration covered approximately 700 hectares (less than 20% of the property). Based on the encouraging results to date the Company has staked an additional 1870 ha of surrounding ground around the original 2000 ha concession, increasing the total size of the property to approximately 3,870 ha (38.7 square kilometres). [Just for a comparison, the Leticia property covers 100 ha, or 1 square kilometre. This new project in Sonora is over 38 times the area of Leticia!] I haven't yet received the full report on this first phase of exploration, but I do expect to have a compilation map up on the web site soon. This map will show the various zones recognized to date, including the Amethyst, Lucy, Jed, and Chaos Zones. The exploration program is continuing; the project continues to get better as new data supports previous results. Remember, Miranda only has 8.3 million shares outstanding; 10.5 million fully diluted. MAD is currently capitalized at $3.3 million, and still has ~$1.0 million in its treasury! I expect 1998 to be a very successful year for MAD! Best Regards, Dennis