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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC) -- Ignore unavailable to you. Want to Upgrade?

To: Mr.Staya who wrote (114)	5/11/1998 8:57:00 PM
From: Neil Irwin	Read Replies (1) \| Respond to of 397

NEWS: Abacus Minerals: Phase I Drilling Results VANCOUVER, BRITISH COLUMBIA--Abacus Minerals Corporation announces the remaining assay results from Phase I diamond drilling project on its La Manchuria gold-silver property in Santa-Cruz Province, Argentina. The Phase I drilling was designed as a reconnaissance program and consisted of seven widely spaced holes over an area of approximately 400 metres by 700 metres. This drilling was within a larger area of high resistivity as indicated by geophysical surveys. Most holes confirmed the presence of a large silicified system and contained highly elevated gold and silver values throughout their length. Results from drill hole LM98-2 were previously released and reported a 58.05 metre intersection grading 6.53 g/T gold and 22.3 g/T silver. The hole location and more significant assay results from the Phase I program are summarized below: Drill From To Interval Gold Silver Remarks-distance Hole # (m) (m) (m) (g/t) (g/t) from LM98-2 LM98-1 106.2 117.7 11.5 1.22 136.6 110 m NW LM98-2 45.05 103.07 58.05 6.53 22.3 LM98-3 10.70 34.80 24.10 0.69 131.3 400 m S incl. 10.70 12.20 1.50 1.64 1876.0 and 32.20 33.3 1.10 9.54 222.1 LM98-4 79.85 82.85 3.00 0.83 17.7 330 m E LM98-5 19.54 21.04 1.50 2.18 15.2 470 m E and 64.54 66.04 1.50 1.59 2.9 and 85.94 EOH 13.12 0.28 11.0 LM98-6 7.54 95.20 87.66 0.29 16.3 150 m SE incl 7.54 31.60 24.06 0.33 25.72 LM98-7 No significant assays reported 330 m SW Management is extremely pleased with the Phase I drilling results at La Manchuria. Initial drill testing of several widely spaced areas has resulted in the discovery of a very significant intersection and several other zones of interest which warrant immediate follow-up. With gold-silver mineralization intersected in six of the first seven holes drilled, the La Manchuria prospect appears to represent a very significant gold-silver mineralized system. A Phase II drilling program commenced May 11 and is designed to immediately begin stepping out on hole LM98-2 as well as begin more thoroughly evaluating the other Phase I drill hole intersections. A drill hole plan map is available upon request. ABACUS MINERALS CORPORATION Steve L. Todoruk, P.Geo. President