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

To: Douglas Simpson who wrote (3556)	5/27/1998 7:48:00 PM
From: Steve Stakiw	Read Replies (1) \| Respond to of 4057

Activity in the area of Buffalo Valley. Some individuals have been inquiring about exploration activity in the area of Fairmile Gold's Buffalo Valley project in the Battle Mountain/Eureka Trend. Here is a brief overview of some of the exploration activity that has been announced in close proximity to Fairmile's Buffalo Valley project. Romarco Minerals recently announced that work is continuing on their Converse property, located approximately nine miles south of Newmont's Lone Tree Mine (and approx. 3 miles north of Fairmile's Buffalo Valley project). Romarco Minerals (25%) and joint venture partners, Uranerz (25%) and Newmont (50%), have recently completed their first drill hole on their Redline gold deposit. They anticipate that this year's drilling will substantially increase the gold resource on this property, which presently stands at 1 million ounces. Battle Mountain Gold continues to focus on their land positions within the Battle Mountain-Eureka trend, with important drill programs at Copper Canyon at the Battle Mountain Complex (approx. 10 miles SE of Fairmile's Buffalo Valley). At the Complex, three drills are operating to complete a 70,000-ft. drill program covering the Phoenix and Midas pits. Results to date are confirming the excellent potential to expand the current reserve base. In addition, plans call for a number of deep drill holes to test for Fortitude-type skarn mineralization at depth. Rayrock Yellowknife Resources Inc (soon to be renamed Rayrock Resources Inc.) is planning a significant reserve definition program on the East Hill and Top Zone deposits at their Marigold Mine (approx. 10 miles north of Buffalo Valley) which will begin in the second quarter of 1998. Great Basin Gold's Wilson Independence Property located adjacent to Battle Mountain Gold's operations (approx. 10 miles SE of Buffalo Valley) will be undergoing extensive exploration. Great Basin has stated that they plan to ".systematically drill, critical structural/stratigraphic intersections of the Battle Conglomerate with the Independence Fault and Wilson Stock to locate large, high grade gold deposits." Newmont stated in their 1997 annual report (10-K) that following their merger with Santa Fe Pacific Gold, a concerted effort would begin to evaluate the lands in Nevada acquired in the merger. This evaluation will include geological mapping, an airborne geophysical survey and re-logging of drill holes in order to develop target areas around the Twin Creeks, Lone Tree (approx. 12 miles north of Buffalo Valley) and Rosebud mines. Drill testing of these targets commenced in early 1998. Fairmile is continuing discussions with a number of well-known Nevada gold producers regarding a proposed joint venture on Buffalo Valley. Talks have been progressing well with a high level of interest. The Company hopes to be able to make an announcement regarding these discussions in the near future. If anyone has questions regarding Fairmile please call Investor Relations at 1-888-599-6777 Thank you, Steve Stakiw