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Microcap & Penny Stocks : VGAA @ .36- Its going ALL THE WAY! -- Ignore unavailable to you. Want to Upgrade?

To: otc king who wrote (7)	4/2/1998 3:39:00 PM
From: Robert	Read Replies (1) \| Respond to of 13

VGAA GREAT NEWS VEGA-ATLANTIC CORPORATION ANNOUNCES PURCHASE OF MINING CLAIMS VEGA-ATLANTIC CORPORATION (the "Company") announces a change in its targeted business operations to gold and exploration and property development. The Company also announces the appointment of Mr. Steven Andersen as President and Director of the Company. Mr. Andersen has accumulated more than twenty years of international business experience in retailing, processing, manufacturing and marketing operations. The Company has purchased 173 unpatented lode mining claims situated in Camas County, Idaho through an agreement with Geneva Resources, Inc. The claims are called the "Vega Claims" and are located approximately 50 miles North of Twin Falls. 15,000,000 restricted 144 shares in the capital of Vega-Atlantic Corporation were issued to Geneva Resources, Inc. in return for a 100% interest in the 173 claims. Assay testing of samples taken from the claims area show gold at excellent values. The claims are north of the Intergold Corporation's Blackhawk project in the same volcanic caldera. The Vega Claims are located within a volcanic caldera filled by welded olivine rhyolite tuffs of late Miocene-Pliocene age. The gold-bearing zones appear in units of rhyolite which have been intruded by rhyolite domes. Given that the Vega Claims mineralized zone appears to be essentially similar to Intergold's Blackhawk zone, it is probable that the mode of occurrence of the gold is also similar. If this proves correct, the gold would be present in disseminated sub-micron sized particles in close association with a zirconium mineral. The gold values obtained to date were by fire assay of the zinc sponge precipitates from leach solutions. The Vega Claims are three and one-half miles long and about 2,000 feet wide with gold values varying between .06 - .21 ounces per ton (opt). The average value is 0.11 for the entire zone as represented by six rock samples taken one mile centers. This zone is a mirror image of Intergold's Blackhawk occurrence at a similar stage of exploration. The Company's project manager is Dr. Michel Mehrtens, Ph.D., who has directed mining exploration efforts to date, including surface sampling and staking operations. In the course of this career, Dr. Mehrtens has received extensive training and hands-on experience in most areas of mining and exploration with particular reference to gold and copper. Dr. Mehrtens received his doctorate in Applied Geochemistry from the Royal School of Mines in London, U.K. in 1966. He has worked as senior geologist of several international mining firms. During a 21 period, Mehrtens gained mining, exploration, and management experience with the two largest multinational mining corporations. Between 1974 and 1979, Dr. Mehrtens served as head of U.S. exploration for Rio Algom, a division of Rio Tinto Zinc. Between 1986 and 1990, Mehrtens was president of USMX. Vega-Atlantic Corporation has also completed a Reg. D-504 exemption offering of 6,000,000 shares to raise capital for the Company. Total share capital of the Company is currently 29,555,000 common shares. The Company is planning a preferred share issue to provide further funding for exploration and development. Contact: Investor Relations E-mail: investor@vega-atlantic.com Phone: (800) 721-0016