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Gold/Mining/Energy : MPVIF Mountain Province Mining -- Ignore unavailable to you. Want to Upgrade?

To: Gabriela Neri who wrote (797)	4/20/1998 9:51:00 PM
From: Famularo	Respond to of 2577

Test sampling of four pipes on AK claims completed Mountain Province Mining Inc MPV Shares issued 24,136,264 Apr 17 close $5.00 Mon 20 Apr 98 News Release Also Camphor Ventures Inc (CFV) Mr Jan W. Vandersande reports The test sample of the four pipes has been completed. The recovered kimberlite is now being processed at a Dense Medium Separation (DMS) plant. In addition, exploration drilling of lake-based targets is continuing. The operator, Monopros Ltd, a wholly owned subsidiary of De Beers Consolidated Mines, has advised that it has completed the test sample of the four pipes (Hearne, Tesla, Tuzo and 5034) ahead of schedule. Approximately 50 tonnes of kimberlite has been recovered from each of these pipes. The kimberlite is now in the process of being treated in Monopros' DMS plant at Grand Prairie, Alberta. The concentrates produced will be shipped to South Africa for diamond recovery and preliminary evaluation. The results, grade (carats per tonne) and initial diamond evaluation (value per carat), for each pipe will be announced when they are received from De Beers. The decision to go ahead with a major bulk sample (which would form part of the basis for a prefeasibility study) next winter will be based on the results of this test sample. If results come in as expected, based on the promising caustic fusion results reported previously, then the program will proceed. Exploration drilling of lake-based targets will continue as long as the ice conditions remain favourable. One of the holes drilled this winter intersected 50m of kimberlite (horizontally projected) approximately 100m northeast of the northern part of the 5034 pipe. This possible extension of the 5034 pipe is underneath land and additional drilling this summer will better define its approximate size and shape. The potential for an increase in tonnage for 5034 exists. De Beers has estimated the 5034 pipe to contain approximately 15 million tonnes with a potential revenue of US$82.50 per tonne based on a modeled average value per carat. Exploration drilling of promising land-based targets will take place this summer. The AK and CJ claims, in the Northwest Territories of Canada, are held 90% by Mountain Province Mining and 10% by Camphor Ventures. As reported in March, Mountain Province and its partners have entered into a joint venture agreement with Monopros under which Monopros has the right to earn up to a 60% interest in the AK and CJ properties.