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Gold/Mining/Energy : Golden Knight Resources GKR-VSE -- Ignore unavailable to you. Want to Upgrade?

To: Stew who wrote (18)	4/21/1998 8:25:00 PM
From: Buckey	Read Replies (1) \| Respond to of 63

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: CROSS LAKE MINERALS LTD. 12(g) No. 82-2636 VSE SYMBOL: CRN APRIL 21, 1998 Cross Lake Minerals: Copper Zone Extended in Night Hawk Lake Drilling VANCOUVER, BRITISH COLUMBIA--CROSS LAKE MINERALS LTD. (the "Company") has been advised by Golden Knight Resources Inc. (the "Operator"), of the highlights of a recently completed diamond drilling program at the Night Hawk Lake project located 30 kilometres east of Timmins, Ontario. Five holes totalling 1,729 metres tested base and precious metal targets defined by geophysics on the Sheraton Lake and Cross Lake Zones. On the Cross Lake Zone, Hole SK98-24 intersected copper mineralization approximately 350 metres below surface. A 13.5 metre intersection (between 344.0 and 357.5 metres) which graded 1 percent copper including 1.6 percent copper over 7.5 metres (348.5 to 356.0 metres), was hosted by chlorite altered cherty exhalatives. The footwall zinc zone was intersected between 370 metres and 453 metres (83 metres) and contained highly anomalous values, including 2.2 percent zinc over 1.5 metres. This hole tested a deep anomaly defined by mise-a-la-masse and pulse EM geophysics and is significant in that subsequent down-hole geophysics suggests the edge of a potentially larger copper zone has been intersected. Hole SK98-24 extended the strike length of copper mineralization in the Cross Lake Zone to 700 metres, and down-hole geophysics indicates further potential along strike and at depth. The four other holes tested extensions of the Sheraton Lake Zone, as well as a new zone in Bond Township about two kilometres to the north. All holes intersected geology favourable for massive sulphide mineralization, as well as locally anomalous base metal values. SK98-22 tested an induced polarization target located 1.5 kilometres to the southwest of previous drilling near Sheraton Lake. This hole intersected 15 metres of semi-massive banded pyrite at the argillite/felsic volcanic contact and indicates that the favourable host rocks of the Sheraton Lake Zone continue significantly further west than was previously known. In 1997 drilling on the Sheraton Lake Zone, copper and zinc mineralization was identified in every hole of widely-spaced drilling over a strike length of 1.1 kilometres. The Sheraton Lake Zone is open along strike and at depth. The Night Hawk Lake Joint Venture has approved a $410,000 program consisting of additional down-hole and ground geophysics, data interpretation and drilling on the Cross Lake, Sheraton Lake and Bond Township Zones. The Night Hawk Lake Joint Venture consists of the Company (16 percent), Golden Knight (60 percent), East West Resource Corporation (16 percent), and Canadian Golden Dragon Resources Ltd. (8 percent). Golden Knight is the operator. A schematic longitudinal section is available by fax, upon request. ON BEHALF OF THE BOARD OF DIRECTORS CROSS LAKE MINERALS LTD. Erik Andersen Vice President, Land Note: A schematic longitudinal section is available by fax by calling the phone number listed below.