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Gold/Mining/Energy : ORS.V , Oro Belle, In Argentina -- Ignore unavailable to you. Want to Upgrade?

To: Bill Jackson who wrote (18)	7/10/1998 12:38:00 PM
From: Winer	Respond to of 19

Hi Bill. Please remember to turn out the lights on your way out.. VICEROY RESOURCE CORPORATION TSE SYMBOL: VOY AND ORO BELLE RESOURCES CORPORATION VSE SYMBOL: ORS JULY 2, 1998 Viceroy and Oro Belle Announce Plan of Arrangement Approved VANCOUVER, BRITISH COLUMBIA--At the annual and extraordinary general meeting of the shareholders of Oro Belle Resources Corporation ("Oro Belle") held June 29, 1998, the shareholders approved a plan of arrangement of Oro Belle and its shareholders, pursuant to which Viceroy Resource Corporation ("Viceroy") will acquire all of the outstanding shares of Oro Belle on the basis of one (1) Viceroy share for each eight (8) shares of Oro Belle. In addition, all Oro Belle options and share purchase warrants will be converted to Viceroy options and share purchase warrants on the same ratio. Any shares, options or share purchase warrants held by Viceroy will be cancelled. Oro Belle also received approval of the arrangement from the B.C. Supreme Court and, effective July 2, 1998, the common shares of Oro Belle will be delisted from the Vancouver Stock Exchange. Pursuant to the arrangement, Oro Belle will become a wholly-owned subsidiary of Viceroy. Part of a small group of companies headed by proven gold producer Viceroy Resource Corporation, Oro Belle Resources Corporation is engaged in the acquisition, exploration and development of mineral properties throughout South America, with primary focus on Argentina. Viceroy Resource Corporation is a mid-tier gold producer headquartered in Vancouver, B.C. In addition to the 100 percent-owned Brewery Creek Mine and 75 percent-owned Castle Mountain Mine, the Company has aggressive exploration and acquisition programs underway in the Americas. Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainties which are detailed under the heading "Risk Factors" in Viceroy's Annual Information Form filed with the securities commissions of Ontario, British Columbia, Alberta, Quebec and other regulatory authorities. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. All subsequent written and oral forward-looking statements attributable to Viceroy or persons acting on its behalf are expressly qualified in their entirety by this notice. Viceroy Resource Corporation Linda E. Thorstad Vice President, Corporate Relations (604) 688-9780