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Gold/Mining/Energy : GMD RESOURCE -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (724)	5/20/1998 10:46:00 AM
From: Dave R. Webb	Read Replies (1) \| Respond to of 1030

Latest News. Diamond Project, Financing GMD RESOURCE CORP. 1405 - 675 West Hastings Street Vancouver, BC V6B 1N2 Tel: (604) 662-3350 Toll free: 800-808-3350 Fax: (604) 681-2879 Tuesday, May 19, 1998 VSE Symbol - GMD U.S. 12g3 Exemption #82-4071 News Release No. 197 NEWS RELEASE GMD Resource Corp (the "Company") has signed a contract with Geoterrex-Dighem to immediately commence a comprehensive 13,650 line kilometer helicopter-borne magnetic and electromagnetic geophysical survey on the Royce Group diamond property (the "Property"), north of Yellowknife, NWT. The geophysical program is designed to examine the portion of the Property where the Company has identified; concentrations of kimberlite indicator minerals that are; coarse grained (near to source) angular (near to source) preserved reaction-rim and other delicate surface textures (near to source) indicative of diamond stability (G-10 pyrope, Cr-diopside) indicative of diamond preservation (high Cr Mg-ilmenite) contains termination of several glacial dispersion trains contains several magnetic signatures previously identified in an initial fixed-wing aeromagnetic survey. Two small fragments of kimberlite. The survey is expected to be completed in 4 weeks. Field data will be used to identify high-priority targets that can be ground checked immediately. The 1998 exploration program includes geophysics, follow-up till sampling and the geological mapping of targets which are planned to be tested by diamond drilling later this summer. The Company also announces it has received final VSE approval for $808,600, and preliminary approval of the balance of the $1,330,640 financing announced May 12, 1998 (News release #196). On behalf of the Board GMD RESOURCE CORP. Per: "David Webb" Dr. David Webb President DW/fs The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this new release